Buying a home is a big decision, and if you’re trying to be a real estate investor, you’ll be buying a house much more than once. Most first-time homebuyers can simply apply for a low-down payment loan, search for their “dream home,” and buy whatever house has the type of flooring they like. But investors can’t afford to think this way. With many more options to buy, different types of loan products available, and deals to chase, you’ll need to be educated on the housing market before you make your first bid.
Henry Washington, like all of us, learned a lot after buying his first rental property. Now, many houses later, he has a much better understanding of how to buy, analyze, and fund investment properties. The four tips that he gives in this week’s video are crucial if you’re not only trying to find a good deal but a property that will build wealth for you in the background. Do NOT skip any of these steps on your homebuying journey, or you could be in for a rude awakening once you close.
Are you planning on buying real estate in 2023? If so, what type of metrics are you looking at to decide where/when to buy? If you’re an experienced investor, what advice would you give to those looking for their first home? Let us know in the comments below!
00:00 It's Time to Buy! 01:38 What Do You Need to Do? 02:44 1. Prep Your Credit 04:14 2/3. Know Your Loans (and Down Payments!) 07:47 4. Know Your Numbers 11:12 Get Seller Concessions! 12:00 You're Ready to Buy!
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