USA Property Investment Tips
Considering buying an investment property in the US but afraid to buy a lemon?
How to reduce the risks and ensure a real deal?
Property Consultant at www.toppropertydealsusa.com, Ms A-L Nguyen reckons the “key to success is to build a good and trustworthy local team that I can rely on: local property manager, accountant, legal attorney, real estate agent who can bring local expertise and inform me of things only locals know.”
“To save time, partner with or rely on someone/organisation that can be trusted, which already has a team and network of reliable contacts.”
Whether finding a property alone or going through a third party, here are some tips anyone can follow to increase his/her chances to buy a solid investment:
Check market price and validate property value: “Property prices in America are lower than property prices in Australia. Check recent sold prices in the area to have an idea of current market price.”
- Request to see comparables.
- Check free websites such as Zillow for estimate.
- Check the property’s county website for sales history.
Check the neighbourhood: “No one wants to buy where the level of crime is so high that no one wants to rent or manage the property… “
- “If I can’t go see the house myself, I would ask someone local to do it for me”. Ask friends, friends of friends, relatives. Do they feel safe just driving around the neighbourhood?
- Call a few local property managers and ask them about the property and the area. They should be able to tell immediately whether it’s a good or bad area.
Check references and do due diligence/research: “Many surprises can be avoided by just doing a few simple checks and not blindly trust a referred contact.”
- Ask for existing client references and do a simple online research for reviews whenever considering a new partnership or using a third party service.
- Get as much knowledge as possible by checking out: seminars, blogs, magazines forums and websites, local meet ups, etc.
For a guide on how to get started with investing in US properties and a US property cash flow template, check out www.toppropertydealsusa.com
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- Contact Information
- A-L Nguyen
- Property Consultant
- Top Property Deals USA
- (1) (0)2 8003 3006
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