Wednesday, November 30, 2016

Looking For An Investment Property?

While you are preparing to look for an Investment Property, here is a check list that may be helpful with your search.



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It can be very helpful to take time before you start looking at individual properties, to identify specifically the things you want in a rental property. This will help you focus on target properties that will help you meet your investment objectives.

Must physically have:

 Single-family detached housing
 4 bedroom, minimum 2 bath
 $125,000 – 175,000 sales price
 Plano west of Coit Road
 Dallas, north of Beltline; west of Coit
 Less than 15 years of age; preferably, less than 10 years
 Average condition
 Predominantly owner-occupied neighborhood
 Traditional style
 Something good about location
 Two-car garage
 Fenced yard

Must have financially:

 A 10% minimum discount from fair market value
 New 80% loan-to-value mortgage
 No PMI
 Estimated rate of return in excess of 12% after-tax 
Would like to have:

 Sprinkler system 
Will not consider:

 On or backing up to busy street
 Backing up to shopping center