It is important to be patient and well-informed about the market value of the property you wish to purchase. Selecting real estate that is more likely to increase in value is the most important decision you will make, therefore, buying at the right price is crucial.
Before you purchase the home, have a professional building inspector perform an in-depth inspection of the property to find any potential problems as this may hinder your profit potential. Thereafter, it is recommended to do an in-depth inspection annually.
Although investment properties qualify for loans they usually accompany a higher interest rate. Be prepared to put down at least 20 percent of the property price as a down payment on the loan and insure that your credit is in good standing.