First Time Investors!

Leslie Lowery
Leslie Lowery
Published on November 6, 2018

Are you a wanna-be investor? Here are some tips for getting started with investment properties:

Figuring Out Your Financing

Before deciding where you want to start looking or what type property you want to invest in, you need to take a look at your finances. Even if you have cash, you may not want to pay all cash on your first property because you could use that money as a down payment for SEVERAL rental properties. Most lenders require 20%-25% down for investment purchase. If you don’t have this cash sitting in your savings account, there are a couple other ways to acquire a down payment such as:

  1. Using a home equity line of credit on your primary residence
  2. Taking a withdrawal from a retirement account

Some lenders are more investor savvy than others, so you want to work with an experienced lender. Once you know what you can afford, you’ll be able to determine what area and what type of property to purchase. 

Finding a Realtor

If you choose a realtor who has experience working with investor clients, they can help you find the areas that have the best return on investment. Leslie Lowery has worked with many investors in the Denver-Metro area, and would easily be able to help you determine where you want to buy.

Fix-n-flip? Buy to rent? Air-BnB?

Each of these options can be successful depending on the property, and how much time you want to invest. Speak with your realtor, lender, and financial adviser to determine what option would fit your lifestyle right now.

Watch our video below to see our most recent investment property!

Tour this House with Us!

Join us for our latest edition of "Ask a Realtor: where we tour a fantastic investment property we recently closed on. Keep an eye out for next week's blog where we will discuss how to start buying rentals for your portfolio!

Posted by Leslie Lowery, Your Castle Real Estate on Friday, November 2, 2018

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