Zack childress real estate reviews for young investors who have just stepped into the shoes of “real estate investment and marketing”, Zack Childress provides some beneficial tips on home-buying process. Purchasing a property is not a cakewalk.
The following suggestions will help you to take better decisions:
- Real Estate Market Research
- Location
- Mortgage
- Facelift
- Retirement
- Enriching Knowledge
- Budget
- Credit History
- Attending Open House and Virtual Tours
- Beware of Scams
Real estate Market research
The risks and benefits have to be analyzed before investing on a property. Every investment property has pros and cons. Condos and town homes differ from mobile and vacation homes. The investors must be careful when there is a dip in the real estate market. Selling and buying homes is not advisable when there is a fall in the market cycle or when housing bubble condition prevails.
Location
Choose an area where you can find potential appreciation in value. When you find a home too pricey, research the reason behind it and then invest. The overpricing issue occurs which will cause depreciation and decrease in number of homes sold over a period of time. There are many scammers who pretend themselves as sellers to first-time investors.
Mortgage
Don’t just go ahead with a bank which you visit first and apply for mortgage loan. Consult a mortgage broker to know which financing method will suit you. Income of an individual is the most important factor to determine the mortgage scheme. Make sure your payments are on time and there is no payment default to avoid foreclosure.
Facelift
Lookout for upgraded or remodeled kitchen and bathroom while inspecting the property. The walls should look new with a fresh coat of paint. Ensure that there are no repairs and renovation work to be done when you visit the property. Review the different structures of the property like fixtures, knobs, handles and countertops.
Retirement
Start saving funds for your retirement, young investors may think it’s very much futuristic but we have discussed the blunders committed by the new investors in other articles which you can check out in REI quick cash system. You can also browse through how to open IRA and other retirement plans for young and aspiring investors.
Enriching knowledge
Learnt the basics by joining a course or refer real estate blogs. Zack Childress training programs and automated wholesaling system is started running for welfare of the aspiring investors to learn the tricks of real estate investment.
Budget
The investor should have a calculative mindset and take care of their monthly expenses. Curtail the unwanted expenses to save for your down payment. The monthly expenditure should not exceed the income of an investor.
Credit history
As you are a new investor, it is must that you maintain a clean credit report.
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- Attending open house and virtual tours
Open house has both pros and cons, so it’s up to you decide whether you can attend or not. Virtual tours are not advisable if you are purchasing a home for the first time. The inspection is must and it should be done in real time to check nook and corners of the house.
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- Beware of scams
The new investors are vulnerable to fraudulent activities. Get yourself aware of all the scams happening in real estate.