Are you a real estate investor wondering when is the best time to buy investment property for investors? You’ve come to the right place! We are real estate investment experts and we enjoy sharing our knowledge with both sellers and investors so that you can find the best deals.
Real estate investing can be tricky but if you follow these tips on when to invest, you’ll have a better chance at winning the game of real estate investing. Just a little knowledge about how things work in the real estate industry helps you to determine when the market will work best for you.
Look for Desperate Sellers
We’re not talking about taking advantage of people here. But you can help out someone that is hungry to let go of a house for cheap so that they can put their money into the one they really want. It’s a win-win situation if you play your cards right. The way to find these sellers are to look in the paper ads under the real estate section to see who wants to sell fast.
Buying from sellers who need to sell quickly may also be in a position to offer you a cheaper deal than those who have more time to sell.
Repossessions and Liens
People who are facing foreclosures from the banks or the courts are also likely to need to sell their home fast to get out of their legal and financial quandary. You can be a Godsend if you present yourself in a manner that is professional and offers them a fair price for their house. Then they can be free of the financial burden and move on with their life.
Buy During the Winter Months
If you look for houses during the winter months, you may avoid getting into a bidding war with other buyers or people who may want to move into the house. Spring and summer are the most common times that families move or change houses. When you avoid these peak times and invest during the winter months, you’ll have more success in finding quality homes that you can resell or rent out.
During Low-Interest Rate Times
Another time to invest in real estate as an investor is during low-interest times. While low-interest rates are generally bad news for the stock market, they are good news for investors because you’ll be able to negotiate a deal with little interest to pay. This saves you a great deal of money in the purchase and may give you a bargaining chip with sellers.
Tips on the Best Time to Buy Investment Property for Investors
If you’re still wondering when is the best time to buy investment property for investors, here are a few other things to look for in the real estate market that may help you find the best deals:
- Look for high-quality homes that will sell well on the market. It’s only a good investment if you know that you can resell the house for more than you paid for it. Do your research and see if the location is a good one, find out if the area is expected to grow, and study the factors that may influence the market.
- Offer competitive prices with real estate companies. If you want to compete with the big real estate companies, you’ll need to try to beat their offer when you can. Study the real estate ads and then try your best to beat their prices when you make your offer. Sellers will deal with you if you can offer them a quick solution and they are ready to sell today.
- Consider the possibilities. Always think about what you will do with the property in New York once you purchase it. Do you plan to rent it out, resell it, or fix it up and then put it back on the market? The goal you have for the property should guide your decision on how much to pay and whether to purchase the property.
If you are a real estate investor in New York, NY, it’s a good idea to know the area and get an idea of the going prices for the geographical market there. Compare the price you’re willing to pay with that of the local real estate companies and see if you can beat their price.
Talk to the seller and get to know their goals. If you offer them a fair deal, they should be happy to sell to you.