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Purchasing your own home or investing in a rental property can be overwhelming. But with the right advice and support you can make investing in property a very profitable experience. Below are some simple ‘rules’ to follow, however there are many fascists to purchasing well, so if what’s mentioned below interests you please feel free to Contact Advanced Mortgage Solutions for further information.If you’re a first time home buyer it may all seem a bit daunting, but that’s where Advanced Mortgage Solutions comes in - we can explain the Jargon and help you plan your portfolio.
Here are some general tips that can help you, the first time buyer, plan your investment strategy.
Keep in mind that location will affect your costs. Start out with a general area, and then narrow your search. It will help to make a list of your requirements. These should include:
Consider shopping, the quality of local schools, transportation, proximity to friends and family, crime and other conditions that affect the quality of life. If you want to go a step further you could narrowed your search and get more specific, spend time driving and walking through the neighbourhood, take notice of how the surrounding homes are kept, talk with residents, shopkeepers and the local police.
If you have children, the quality of schools isn’t likely to be negotiable, while the number of shops may be.
This is of course a very brief explanation, click on Contact Advanced Mortgage Solutions and get further help on how to choose the right home.
Please feel free to read a range of Testimonials sent to us from existing Advanced Mortgage Solutions clients.
Just like any other purchase, there are property buyers that will pay retail prices, others who pay wholesale price and some that may pay a premium or inflated price.
There are two parts to successfully executing the “buying low” strategy. One is to find a quality real estate that may be bought at less than retail. The other is the way you conduct and submit your offer to buy at a wholesale price.
Not all vendors have to sell their property, however there are many reasons that make them very motivated. Clues read like this in their advertising: “vendor overseas, must be sold, price slashed, desperate, mortgagee auction.”
Know what the seller paid - A vendor is more likely to accept a discounted offer if it cuts only into profit. If it cuts below what they actually paid then it is less likely to be successful. There are many sites available to help you find information regarding a particular property.