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Montgomery AL Real Estate Investing Tips

Wednesday, May 15, 2013
by The Hat Team

The word is spreading in the world of real estate—“Now is a good time to invest in Montgomery AL real estate.”  The reasons behind this advice appear to be both numerous and sound and include justifications such as low home real estateprices and interest rates, an increased demand for rental property, strong signs of a recovering real estate market, and the continuing volatility of the stock market.

Think that you might like to invest in Montgomery AL real estate and become a landlord?  Then continue reading.  Investment gurus and experienced Realtors have many sage pieces of advice for you about property selection, financial considerations, and building a team.  Among them are:

  • Find the right piece of real estate:  The Internet can be your best friend when searching for houses to buy, so remember to use the net to check out homes and neighborhoods. Investigate current rental rates, average salaries, and unemployment figures for that area.  Be alert to homes that are in mortgage default and about to be foreclosed on. You may want to consider properties in pre-foreclosure if you have ample time to wait. Look for properties that don't need major fixes but will benefit from quick, low-cost improvements.  Choose a knowledgeable Realtor who is experienced in investment properties.  Think about joining a real estate investment club to meet a wide variety of professionals.
     
  • Run the numbers:  Get every last expense figured into your calculations, and be sure that you will have positive cash flow from the start. Include repairs, mortgage payments, taxes, insurance, maintenance, management, HOA dues, utilities and reserves.
     
  •  Hire your own professionals:  You may think it would be easier to just utilize the inspectors or appraisal professionals selected by the seller, but it will hurt you in the long run. No one likes spending money on something they could get for free. Nevertheless, it is good to hire individuals that you can truly trust.

It is important to realize that investing in Montgomery AL real estate is not a get-rich-quick scheme and that it does require some work on your part. While appreciation will occur over the long term, you don't know how long that will be. In the meantime, you want to be able to make a profit, or at least not lose money every month.

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Thinking About Investing In Montgomery AL Real Estate? Read On

Thursday, November 10, 2011
by The Hat Team

Given the state of the economy, the housing “crisis,” and the volatility of the stock market, more and more folks with both extra cash and initiative are being drawn to the idea of property investment. Many real estate and financial gurus offer suggestions for you as a first-time investor in Montgomery AL real estate--both tips to follow and traps to avoid. First and foremost, all the experts stress the importance of your need to be realistic about the amount of time, money, energy, and commitment required in such a venture. Their second most common piece of advice is to educate yourself in as many areas of investment fundamentals as you can before you begin.

montgomery al real estateTIPS:

  • Develop a plan. Determine your purpose in becoming an investor. Do you want to flip houses, or are you more comfortable with a long-term rental? What kind of property do you want? Single family? Condo? Multi-family? Will you be bidding at an auction? Buying a short sale or foreclosure? What kind of financing will you need?
  • Identify your target area. Analyze the economic situation of the neighborhood, population levels, and potential employment prospects. Look at the availability of stores, schools, hospitals, and local industry. Determine the median property values.
  • Ask questions. Are prices in the area rising or falling? Is it a safe neighborhood? How long has the property been on the market? What is the condition of the interior and exterior structure?
  • Consider financial circumstances. What is the going rate for rentals in the area? What are the yearly taxes? What will it cost to maintain the property? What kind of financing will be available to you?
  • Avoid Montgomery AL real estate with HOA fees. Home Owner Association dues which pay for shared facilities and maintenance must be paid by you, the owner, and can be quite high, especially when major assessments are levied.
  • Have the property inspected by a professional before you buy. Common sense prevails here. You don't want any unpleasant surprises later on.
  • Stick to your preset buying criteria. Concentrate on your cash flow and not on potential capital appreciation.
  • Be sensible about renovations. Save the high end appliances, fixtures, features, and decorating for your own home. Use your head, not your heart, when outfitting the Montgomery AL real estate you’re buying for investment purposes.

Enjoy the adventure of investing but always be aware that such a venture can be risky. Make sure you consider the downsides as well as the opportunities for success.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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