A Smart Way to Buy a House!
This article is a segment of my complete discussion on "How to Buy Your First Home like an Investor"
#1 - Buy with Equity
- Make multiple offers
- Probate or Short Sale properties
- HUD owned homes
- Distressed properties
- Off Market Opportunities
- 20+ days on market
#2 - Buy in Growing Area
Our second objective is buying in high appreciation areas. Of course, most all of Seattle is an appreciating area, but what specific neighborhoods can we expect an above average growth compared to the overall market?
There are also dozens of submarkets in the cities surrounding Seattle, all have fantastic growth opportunity at 50 to 80% the cost of owning in Seattle proper.
Ways to identify a growing area:
- Research neighborhood growth plans available at the City's Urban planning dept
- Research local colleges and universities, are they expanding?
- Research building permits pulled in a given area, are builders building a lot?
- Research transportation development plans, are there any major transit systems going in?
- Look at recent growth patterns, are there any nearby neighborhoods that could be good candidates for the next "it" spot?
#3 - Forced Appreciation
- Add a fence or dog run
- Replace windows / doors
- New roof & gutters
- Interior and / or exterior painting
- Landscaping Overhaul
- Replacing flooring
- Have the home re-wired
Deal Sweet Spot
Work with Me
- Patience - Waiting for the right deal
- Contract presentation - Knowing what is important to the seller
- Negotiation - Facilitating a win for my clients
- Organized follow up - Following up consistently with those who told us NO
- Off-market opportunities - Most deals are not on the market
Fresh Look Real Estate Broker
DW Homes Investments