Insider Tips for Buying Investment Property in Louisville
Two Insider Tips for Buying Investment Property
It doesn't take a brain surgeon or a rocket scientist to be able to buy investment property in Louisville but there are always a couple tips that you can take advantage of to make your efforts a little easier. There are many things you can do to ensure your success in investment property. Here are a look at two you may or may not know about.
Know Your Canvas
It's important to get to know the home values in the area you're canvassing (the area where you'll be making offers). Your canvas area is where you intend on concentrating your marketing efforts. You can gain much of this information from the MLS listings but an even better way is to take a Sunday and hit the open houses. Not only is this a great way to find out the home values but you'll see firsthand "what" exactly sells for that price.
Get to Know the Local Agents
Secondly, while you're out canvassing your canvas and checking out the open houses, it's also the perfect opportunity to get to know local real estate agents. This can put you at the top of their buyers list when they have an "ugly" house to sell. Sometimes realtors get calls from repeat customers that have "junkers" to sell and the realtor can't simply say no to taking the listing. However, they don't want to spend time and energy marketing and advertising the property. That's where they're list of investors comes into play. Investors like you are who they call in these situations so it's a win win for everybody.
These realtors are also valuable sources of information. Let the agents know upfront that you're an investor and doing research and then watch the conversations and relationships take place! You won't be sorry!
Hitting open houses familiarizes you with your canvas area, helps you determine what homes are selling for and gives you great networking opportunities.