Since it’s that time of year, I thought it fitting to say don’t FALL in love with the first house you see. Shop around. The average homebuyer looks at 10 homes before making an offer. Try and compare at least 2-3 possible homes before making a decision.
Also, don’t get caught up in the excitement of buying your first investment home. Bring your checklist of what features you’re looking for such as energy efficient windows, a new roof or furnace replacement. It can help to bring a friend or business partner to help keep you grounded. Some people will give you advice telling you to look for the cheapest house in the best possible neighborhood.
But, you should also be open to looking at average homes in up and coming neighborhoods. Those will typically give you the most bang for your buck when you sell in a few years.
Keep your options open to avoid buyer’s remorse. If you fall in love with the home at first sight, don’t turn a blind eye to its shortcomings. Deal with it head on. Keep your emotions out of the business transaction. Maybe you’ll win the bid this time, maybe not.
Either way, RCN Capital is here to help you with your real estate lending needs. We have the ability to fund your next investment purchase quickly so you can get your hands on your next diamond in the rough.
For more information on private lending, please visit us at RCNCapital.com
We’ll be here when you need us.