Discover how to make Finding The Right Property Investment Opportunity better

Copyright (c) 2010 Kaye Dennan

Investors need to have property investment strategies in place to take advantage of property investment opportunities as they come along. Investors all have different property investment strategies, but if they do not have a plan in place for purchasing they could well miss an opportunity by not being ready to purchase.

Therefore there usually are more considerations to take into account, especially as regards the profit you will make from a property investment when it is going to be added to your property portfolio.

The fact is there are many property investment opportunities on the market at any one time, but whether they are suitable to add to your portfolio or not is the question? If you do not have good property investment strategies in place these opportunities could be here and gone before you are organized.

These 11 steps will make the process of buying an investment property for immediate rental easier and give it more chance of producing the return that is expected.

1. Find out how much equity is available to put into a new investment property.

2. Discuss your situation with a good mortgage broker and find out what monies can be borrowed, which will then give a property price range within which to work.

3. Check out the property investment business plan and go over the criteria for purchasing - the size, transport, how many bathrooms, garages, construction, yard etc and also location details as regards schools, transport and so on.

4. Do your research to see where you can find a property with your criteria and with the money you have available - at this stage there may need to be an adjustment as you may need to buy in another area than you first intended and that should be OK as long as you do your homework on the real estate in that area.

5. Make a shortlist of areas in which to buy and contact some agents.

6. Make a short list of properties to view that fit within your criteria.

7. After viewing the shortlist, make it shorter again with propeties that are worth buying.

8. Use online calculators or a property investment program to ensure that you will make the required money from the property of interest and check again it fits your criteria.

9. Make an offer and go to contract (don't forget to use the right buying entity on the contract) and cover yourself with clauses regarding finance and building inspection so that you have an out should you need it

10. Complete all your inspections for pests and so on and get a valuation if needs be.

11. Confirm that all your requirements have been met, finance approved and go to settlement.

Strictly speaking the steps outlined here are pretty standard when purchasing an investment property. Each time you purchase a property you will find that steps 1 and 2 will need to be done and step 3 should be part of the property business plan.

Investors find having a plan makes it easier and quicker to find properties.

When an investor has a set plan to follow it makes propety investment purchsing so much easer and saves a lot of time because each property can be compared to another quite easily. It means that you are not trying to compare a 3 bedroom townhouse against a 4 bedroom house or 1 bathroom against 3 bathrooms. You can see what I mean here. Each different style of property falls within a certain price range and it is easier and safer to be able to compare one with another comparable one, rather than something quite different.

When a systematic criteria for purchasing is used it will make finding the right property investment opportunity so much easier and you will not have the need to keep changing your property investment strategies.