Things To Consider Before You Buy An Investment Property
The market is quite hot right now, and property investors must act quickly if they want to grab a property before someone else does.
This requires making a decision quickly, so having a structured process in place is essential to avoid wasting time and missing out.
Some thought should be given to the property’s condition, but your investment checklist is critical.
Of course, your list should contain a thorough financial analysis so you can see what type of returns you can expect from your investment.
Before I ever contemplate sending the final proposal to an investor, I make my own initial checklist for potential investments, which has roughly 70 points.
A few of the many significant points to consider:
☑️ MEETS YOUR INVESTMENT REQUIREMENTS
No show-stopper covenants, restrictive leases, planning, and building control difficulties.
☑️ LOCATION
Not simply in terms of tenant demand. Neighbourhood with a lot of possibilities for capital growth. Flooding is unlikely. Links to public transportation and so on.
☑️ NUMBERS
As an investor, be clear about the numbers you want. If hiring a buying agent to assist you with your investment, make sure they know the numbers backwards!
☑️ CONDITION OF THE PROPERTY
Boiler, roof, windows, wiring, damp, external issues, flooring, EPC status, decorating, kitchen, and bathroom are just a few examples…
