The choice to buy an investment property is a significant step for anyone. Choosing the right residential or commercial property to purchase is vital in order to get a good return on investment. Many first time investors choose to get property investment advice from a trusted source before making a final decision. This is a good idea for anyone who is not an expert in real estate themselves, and is not a bad idea even for those who are knowledgeable.
One of the best and least expensive places to find reliable property investment advice is from a licensed real estate agent in the area in which one wishes to buy. Not only do agents have inside information on what local properties are doing, but building a good relationship with a trusted agent is a good idea for the future when the property will be up for rent or sale. Most agents are excellent sources for finding potential properties to buy in the first place.
To find a real estate agent, check the phone book. Call around, and have a discussion with each one to get a feel for his or her business practices and success rates. Another great way to meet real estate agents is to ask around to friends and neighbors to find out who they are using for their real estate buying and selling needs.
Another trustworthy place to find property investment advice is from an investment advisor. These individuals generally work for an employer at a firm, and offer sound advice on all kinds of investing. They will typically know the best selling areas of real estate locally, usually just as well as local real estate agents. This person may also give advice on other types of investments, such as stocks and companies on the rise. The downside of using an advisor is the price tag attached, with top advisors charging large sums per hour.
For considerable property investment advice, most people need to look no further than their friends and family members or colleagues. Talk to other investors in the area and discuss current market trends, areas that are selling the best and worst at the time, as well as tips for selling or renting properties faster. It’s true that this property investment advice is coming from competitors, but most professionals are more than willing to give a rookie a few much needed tips.