pro tips: new real estate investors

Pro tips for New Real Estate Investors

by: Kevin Brunnock

Pro tips for New Real Estate Investors by: Kevin Brunnock

Plan Ahead

• This is a business, treat it accordingly. • Do your research. • Draft a solid business plan. • Outline your goals for the next 10 years. • Break down goals into 2 to 3 year phases. • Write out how you will accomplish these.


What’s your Credit Story?

• Look up your own credit report to determine your eligibility and ability to finance a property.

• Lenders usually accept a score of 700 or higher FICO scores from those looking to purchase investment property.

• Calculate your debt vs monthly income ratio . • If it’s too high, evaluate your budget, • Pay down any outstanding debts or loans.


Location Research

• No need to stay too close to home when considering investment properties.

• Don’t limit your options by thinking you need to live near your new property.


Connect

• Get involved with the local real-estate community

• Talk to local accredited mortgage broker. • Ask a certified realtor for recommendations. • Join a real estate club, • Take your friends that work in real estate out to

lunch, • Join online real-estate forums. • Engage with people currently in the industry, so

that you can get a better sense of the landscape.


Mix it Up

• Diversify how you find properties for purchase. • Launch your search in multiple avenues. • Real estate auctions, word of mouth and more

traditional multi-listing sites are a great place to start. Use your network and some creativity!


Mix it Up with:

• Real estate auctions • word of mouth • traditional multi-listing sites • Use your network and get creative!


Now the real work begins!

For more information, visit:

kevinbrunnock.org

http://kevinbrunnock.org