A new group of buyers in West Memphis and Marion Ar - Investor

By
Real Estate Agent with RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590

A new group of buyers in West Memphis and Marion Ar - Investor

Rental is in high demand in Marion, West Memphis Ar., it helps to push another group of buyers out in the market - investors.

Many of them are seasoned investors and have been doing this for a while, some of them are 1st time investor, trying to get a piece of pie while it is still available, and why not?  There are foreclosures coming out often, there are different types of investors, and there is something for everyone.

I have a couple of seasoned investors working with me, they know what area they want, they can see the potential of the property despite of the repairs.  Within a short period of time, they will let me know if they decide to put an offer on the property or not, they know time is of the essence.  A good investment property is not going to last long on the market, sometimes they may even get into a multiple offers situation. 

How do you even begin to buy investment properties in West Memphis and Marion Ar?

  • Before looking for investment properties, you need to be fund ready.  You either have cash on hand or open a line of credit with the bank that you have good business relationship with.  The bank will let you know what they need from you to open a line of credit.  Then you know how much cash you can buy with.
  • Once your fund is ready, you can start looking for properties.  The best and easiest way is contact a local real estate agent to help you.  Let the agent know how much you want to spend.  They know first hand when the property is out, or even before it is out on the market sometimes.  Work with the same agent repeatedly can give you advantage in buying investment properties, he/she tends to pay a lot more attention to find properties for you and notify you quickly.
  • Have a repair crew ready in line, get your resources together for estimate and such.  When you find something you like, you probably won't have time to go back and forth to find a contractor, handy man to give you a repair estimate on the property that you want to buy. 
  • Act Fast!  There are many investors out there and they are all looking at the same inventories, if you want to buy investment properties, you need to be serious and act fast.  You don't have time to waste or you may lose a good deal.  Let your agent know to put an offer for you if you are interested in buying the property.
  • If your offer is accepted, your agent will co-ordinate all the paper work and arrange the closing for you.  You need to get with your bank and let them know the property you are buying, so they can do their paper work also.  Your agent will also co-ordinate with your bank for your upcoming closing.
  • When it is time to close, your bank will issue a cashier check to you.  Your agent will give you all the numbers and information you need before the closing.

If you are serious about buying investment properties, this is the time for it.  Home owners who lost their home to foreclosure or such, they need to rent something till they are able to buy again.  We got calls everyday and looking for something to rent. 

If you want more information about buying investment properties, please feel free to give me a call at 901-488-9590 or email me at ritafong@remax.net  

photo courtesy : http://www.flickr.com/photos/extremeezine

 

Posted by

 

Serving Marion, West Memphis, Crawfordsville, Hughes, Horseshoe Lake, and surrounding areas.  If you are planning to sell or buy, please feel free to give me a call, find out if I am the right agent for you.

 

 

 

Rita Fong, REALTOR®

RE/MAX Real Estate Today

1813 Highway 77  Marion, Ark. 72364

cell:901-488-9590

office:870-735-4663

fax:870-735-4668

http://www.ritafong.remaxarkansas.com

Like me @ facebook

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Arkansas Crittenden County Marion
Groups:
RE/MAX Active Rain Bloggers
Posts to Localism
Anything Arkansas
HyperLocal Neighborhood and Community Posts
Tags:
real estate agent
rental
investor
investment properties
marion
west memphis
remax real estate today
rita fong

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,730,003
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Rita....very nice post!  If I lived in your area and wanted to buy investment property you would be the one to call!  Nice Job!
Have a Great Night!


Go VOLS!

Oct 19, 2011 12:33 PM #1
Rainmaker
333,744
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale
Hi Rob, thank you! More people want to invest in rental business, and this is the time to buy. You have a great night also.
Oct 19, 2011 01:42 PM #2
Rainmaker
932,505
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Rita, investors are great clients to work with.  And I am seeing more investors every day.  It is hard to find good investments at times as well. 

Oct 19, 2011 01:57 PM #3
Rainmaker
333,744
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale
Kay, good ones don't last long, and sometimes they sold over the listing price also.
Oct 19, 2011 02:20 PM #4
Ambassador
648,234
Marilyn Boudreaux
Marilyn Boudreaux, Century 21 Bono Realty - Lake Charles, LA
Lake Charles LA Century 21 Realtor

its always best to advise investors of what to expect in the market, so many want to low ball and with multiple offers of a HOT property you just cant do that.  Do a good job with an investor and they will stick with you to buy more properties in the future!

Oct 19, 2011 03:47 PM #5
Ambassador
1,377,728
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

With interest rates as low as it is, and with prices as attractive as they are, it's hard to imagine not investing in real estate. Investors know it's a great deal. And know when to jump in.

Oct 19, 2011 03:59 PM #6
Rainmaker
4,432,850
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Rita, Good advice for investors. It is a good time to invest in real estate as prices are low and rents are going up.

Oct 19, 2011 11:51 PM #7
Rainmaker
733,403
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Rita, Good list of items for buyers. Having the funds ready and act fast is the key to seize a great deal.

Oct 20, 2011 01:58 AM #8
Rainmaker
333,744
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Marilyn, that's right.  I am thankful I am working with investors who are realistic of prices and so forth.  It is a good time to be investor, but not everyone can be an investor.

Oct 20, 2011 03:10 AM #9
Rainmaker
333,744
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Loreena, this is the best time to buy real estate for sure.  Low prices will not stay forever, and that low interest rate is unbelievable.

Oct 20, 2011 03:12 AM #10
Rainmaker
333,744
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Gita, we have 2 rental managements in the office, we are always out of rental properties.  Especially anything under $1,000 a month, they are like gold to renters.

Oct 20, 2011 03:14 AM #11
Rainmaker
333,744
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Eileen, thank you!  Seasoned investors are pretty good at knowing what to do, some of the new investors may need some guidance in buying properties.  Rental business will be here for a long time. 

Oct 20, 2011 03:18 AM #12
Anonymous
Mark jones

Purchased a property at 16 S Bristol rd Marion ark. As far as I can tell it still standing. Can you check your map on internet. An see Mark Jones 325 388 9158.

Aug 16, 2018 09:26 PM #13
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
333,744

Rita Fong

Realtor - Marion Arkansas Homes for Sale
Ask me a question
*
*
*
*
Spam prevention

Additional Information