5 Tips For Buying Investment Property In Clermont Florida

By
Real Estate Agent BK3063004

"Flipping" is alive and well in Clermont Florida.In fact, it is alive and well in all of Lake County Florida. If you are looking for investment property, here are 5 Tips For Buying Investment Property in Clermont Florida.

 

1.) Find an EXPERIENCED Real Estate Agent. Let me clarify this. Just because an agent has been in the business for a long time or sold a lot of property, doesn't make them an experienced agent when it comes to finding investment property. Look for an agent who has a PORTFOLIO they can show you of houses they have found for investors and the profit gained for those investors. Also, find out how your agent expects to find you the investment property you are looking for. If they say "Oh, I search the MLS for your property", find another agent. The best properties aren't always listed on the MLS. Sometimes, the owner doesn't even know they want to sell until they are approached.

 

2.) Look at a few houses on the market in the area you are interested in investing in. This is critical. Do you know how many houses I look at before I even show them to an investor? A bunch! You need to see what is selling. You need to know what these houses look like on the inside. Too many times, people buy investment houses and then completely overdo the interior. Save yourself some money by spending a little time looking at houses in your area. Fancy and expensive is not always the right choice.

 

3.) Decide if you are looking to flip or cash flow. Not every house that cash flows is good for flipping. Not every house that is good for flipping is good for cash flowing. Know which one you want before you buy or your first investment house might be your last.

 

 

 

 

4.) Stay away from structurally damaged houses. Some people may tell you that you can get good deals on houses that have structural damage. I'm not one of those people. Structurally damaged houses have too much risk involved in them. I NEVER encourage my clients to purchase structurally damaged homes. I WILL NOT gamble with their hard earned money. There are plenty of houses out there for you. Leave these kind of houses to the very experienced and deep pocketed investors.

 

5.) Decide from Day 1 if you are going to do the rehab yourself or if you are going to have somebody else do it. This is not an easy job. It takes time. It gets frustrating. Understand that it usually takes longer than you anticipated and costs more than you budgeted for. I would encourage you to have it in your budget to hire professionals to do the rehab. You can shop around for the best prices, but more than likely, they can do it quicker and better than you. Plus, you are an investor not a laborer. Let somebody else do the labor and we'll go out and find the next one.

 

Good luck!!

 

 

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Johnny Davis

Florida Realty Investments

Broker Associate

1064 West HWY 50, Suite 216

Clermont, Fl. 34711

321-231-4141 Cell

johnny@sellwithjohnny.com

www.sellwithjohnny.com

 

 

 

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