Access to More Properties
When you have more properties to choose from, you’re more likely to locate one that fulfills your investment criteria and generates a return. An investor-friendly realtor will have access to a large number of properties, many of which are not yet listed for sale. When it comes to buying investment property in Philadelphia, such off-market offers can be some of the greatest.
A good agent will work with wholesalers and even go door to door to discover owners who are willing to sell for cash. Call (215) 385-3055 to learn more about the various properties that a Philadelphia agent will have access to.
Identifying Profitable Properties
When purchasing investment property in Philadelphia, you want to do everything you can to ensure that it is lucrative. Not only will your agent have access to a large number of suitable properties, but he or she will also know how to analyze data in order to precisely estimate profitability.
Here are some important profitability considerations your Philadelphia agent can help you with…
This is a crucial factor to consider when purchasing investment property in Philadelphia. After-repair value considers a variety of elements, including possible property appreciation and current upgrades, among others. The essential thing is that an agent may help you avoid being over-leveraged by analyzing the market and after-repair value.
CURRENT RENT TRENDS
When buying an investment property, buy-and-hold investors should be aware of the local market’s rent patterns. Again, an agent can examine the information to see if you can charge enough rent to have a positive cash flow.
TRADITIONAL BUYER COMPETITION
When purchasing investment property in Philadelphia, you must be aware of your competitors due to the current market conditions of little inventory, high demand, and competitiveness. Traditional purchasers who want to buy a home as a primary residence and are willing to spend more are the most concerned competitors. Another crucial area where your realtor may assist you in the purchase of an investment property is in the area of financing.
Calculating Potential ROI
You only want to make money when you buy investment property in Philadelphia or somewhere else. As a result, before acquiring a home, you must analyze the possible ROI. And that’s another crucial area where your agent can help.
Take, for example, flipping. If all goes well, you should expect a return on investment of at least 20%. However, things rarely go as planned; most properties have hidden flaws. That’s why real estate experts advise investing in properties that promise a 30 percent return on investment. Your agent can help you determine the possible ROI based on the information you provide so you can make an informed purchase decision.
Negotiating Better Deals
Negotiations are perhaps the most essential way an agent can assist you in buying investment property in Philadelphia. Simply put, an agent can assist you in obtaining a better bargain than you could on your own.
An agent with excellent negotiating abilities can help you acquire a reduced purchase price and better contract terms, as well as protect you from fraud. As a result, you’ll end up with more money in your pocket as an investor.
When it comes to investing in real estate, you’re never on your own. It necessitates the assistance of a number of specialists, including inspectors, appraisers, real estate attorneys, and mortgage experts. A reputable agent will have a large network of professional contacts and will be able to connect you with the professionals you need to make the most of your investment. To make sensible investing decisions, you need the greatest knowledge and counsel you can acquire as an investor.
Buy Investment Property with a Philadelphia Agent
In summary, most investors want the services of an investor-friendly agent who is well-versed in real estate investing. So call us immediately at (215) 385-3055 if you want to acquire investment property in Philadelphia and get the advice you need to assure profitability.