Set Criteria For Your Real Estate Investments

I went out with my wife today to preview three investment properties that showed promise.  Well, they showed promise on paper from the viewpoint of the MLS.  But then, this is why real estate agents will never become obsolete.  Seeing on a computer screen and seeing in person are two completely different things.

When you are looking for your next real estate investment you must know the criteria that you looking to fulfill so that when you see it you can buy it.  And when you don’t see it you can move on.  Knowing my own criteria and that of many of my clients I was able to scratch off two of the properties with just a cursory glance.  The third shows promise. 

Examples of criteria include;

  • Price range
  • Area of town
  • # of bedrooms
  • # of bathrooms
  • Proximity to transportation
  • Proximity to job centers
  • Quality of school district

Think of criteria as your map.  The houses I looked at in Olathe that were for sale were okay houses.  They matched the city, price range…heck, they matched all of the above…but two of them did not meet the floor plans I like.  No flow.  Choppy.  (Is that really a word?) 

When you are looking at your next investment property you have to put yourself in the shoes of the type of tenant you want.  What will they pay extra for?  What will they shy away from?

It’s your money.  Think before spending.


Filed under Real Estate Investing

4 responses to “Set Criteria For Your Real Estate Investments

  1. You do know that you can stop foreclosure, yourself, right?

    Why pay someone to do what you can do yourself?

    Stopping foreclosure is easy, if you know what to do.

    If anyone needs help gettting the bank to work with you on an alternative to foreclosure, it’s ok to contact me.

  2. I’m not going to delete this comment because I want to show people that you probably didn’t even read the post.

    Mindless spamming is annoying.

  3. Don’t you love those spam comments? Good post though. I know I have this issue with a lot of my clients. A few of them are all over the board in terms of what they want. There is a finite amount of time in any given day and you just can’t look at everything. I’ve always found this to be one of the more difficult things to overcome in real estate.

  4. Matt – Thanks for reading. And in all aspects of life it helps to know what you want. 😉

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