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.

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