INVESTING IN 10 STEPS
STEP 1) The investor hires a Realtor at KWCP
STEP 2) Together, you come up with an investment strategy
STEP 3) The investor provides proof of funds, or you make sure he contacts a mortgage advisor to get pre-approval for an investment property. Note that investment property loans require on average 25% down payment. In many cases investor like me use a HELOC to buy the property first and then re-finance after the property is fixed up
STEP 4) You begin searching for a property meeting your investor needs and criteria.
STEP 5) You also double check there are not too many rental on the market and we check the days on the market for rental in the same subdivision ( possibly ) of our chosen property.
STEP 6) Make an offer on the property.
STEP 7) If the offer is accepted we take the usual steps toward purchase
STEP 8) Evaluate if the property needs renovation: renovated properties are easier to rent and bring “better” tenants
STEP 9) Rent the property.