Owning Investment Property

rental property
rental property
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Q. What should I know about owning investment property?

A. You can make a successful investment by avoiding these mistakes:

Being an absentee owner. Visit the property often and talk to your tenants to get feedback. If you bought a house as a “passive” investment, you may want to hire a property management company.

Not having adequate insurance. Work with an insurance professional who will see that you are covered.

Not charging fair rent. A REALTOR® who is an Investor Specialist can help you decide what is reasonable for the property.

Selecting unreliable tenants. Check all references and credit histories. Good renters will help you generate positive cash flow you can use to reinvest and lower the property payment.

For more information, ask for my Free Consumer Report “How to Avoid 8 Dumb Mistakes Even Smart Investors Make.”

Q. I’m seeking financing to purchase a home. What questions should I ask a mortgage lender to get the best deal on a home loan?

A. Before you meet with the lender, learn important financing terms such as origination fee, discount points, and lock period. This way you’ll be prepared to ask relevant questions. Here are some examples:

Will I be charged an origination fee? If so, how much?

Will I be charged separate discount points? If so, how much?

Will I be charged any of these separate fees: processing, document preparation, underwriting, tax service, or flood certification?

Will there be additional fees at closing?
Is there a lock period with this loan? If so, how long?

For definitions of these terms and more financing tips, ask for my Free Consumer Report called “7 Secrets For Saving Thousands When FinancingYour Home.” I’ll send a copy right to you.

Q. How can I net more money selling my own home?

A. Here are three important tips:
Set the right price from the start. Homes that sell for the most money are priced right when they go on the market.

Create a comprehensive plan to market your home. You can target buyers though flyers and open houses, but your home should be listed in the official MLS database by a REALTOR® so more buyers see it and you get a price closer to what you’re asking.

Hire an experienced Home Marketing Expert. A REALTOR® who knows how to effectively market your home can net you more money. Plus, they can save you time by assisting you with every aspect of the sale, from pricing your home to coordinating the closing process.

Do you have a real estate question you want answered? Feel free to call me at 704-650-5707 or annagrangerhomes@gmail.com

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