13 Steps to Buying a Property Property in the United States,…

13 Steps to Buying a Property Property in the United States,

1 (Target area-

Find the destination area where you will be looking for properties, there are attractive areas in the United States for different types of deals: Florida, Georgia, Oklahoma, Cleveland, Baltimore and of course Texas, and probably other areas I did not mention. There is no such thing as a right area, just decide on the area that looks best to you, do your research, and focus on it.

2 (Asset cash flow

You will find a way to get a steady flow of properties in the target area - you can physically search Craigslist for properties that are advertised that day, you can find Wholesalers who sell deals below market price, or you can find a lawyer who will go to town once a month and buy you foreclosed properties… There are countless ways to work , And it mainly depends on how much you want to be active in the game. Whether you want to fly here from Israel every few months, or you find someone who will work and find properties here for you, you will decide on a way of working, come on.

You got a property from one of the sources, what now?

3 (Characterization of the property

Do a Google search and look at the houses around Google Maps.
When we are looking for homes for rent for the long term we will ask the following initial questions: Size
the surface? The size of the house? how many rooms? How many services? Year of construction? And price?

4 (rental channels

We will examine the rental horizon and try to understand what is the full potential of the place. Apartments with one room? 4-room houses? Multi or single family? There are areas with a huge demand for apartments with room 1, so it pays to split properties in order to increase the return. There are areas where the demand for large houses with many rooms is much larger, and splitting the property can significantly hurt the value.

5 (Crime level

A high return on rent can indicate a high crime rate, so the next check will be an up-to-date check of all the crime data that happened in the area of ​​the property in the period of the last few months. We want to avoid areas with a lot of petty crime, or areas with violent crime.

6 (schools

We will verify the level of schools in the area: primary, intermediate and high school. In the bar of 1 to 10) these data show a refinement of the grade level, and the quality level in the school with components such as: number of students in the class, food served, additional activities, and a variety of other indicators. Particularly relevant when the property for rent is intended for families with children.

7 (Eitani Teva

We will examine the degree of risk that the forces of nature pose to us. And make sure they are minimal: earthquakes, floods, hurricanes, tornadoes and more .. Some of the things that can happen to you in the area of ​​the house, it is important to understand what they are and understand insurance costs

8 (Demographics

We will get a snapshot of the demographic situation: which populations are living in the area? What ages? And what is the average income?

9 (Advanced Data

We will look at more advanced data - what is the average home value compared to the average income? What is the level of animals from 1 l
100? What is the unemployment situation? What is the percentage of properties rented in the area? Is the municipality relatively easy to get
Building permits? What is the cost of construction in the area where we are building? What nearby industries are there in the area? Where do most people work? And in what? And many more questions…

10 (Excel

We will put the wealth of data we examined in a methodical and simple process, into the Excel table that we prepared ahead of time, and we will see how, the deal looks for us.

11 (field man

We will send our field man, or we will reach the field ourselves. A tour of the neighborhood and surrounding streets will help to understand the nature of the area. And we have to verify that indeed the rental prices, the value of the house, and the potential of the neighborhood match the standard of living in the area.

12 (Review and Planning

We will do a thorough review of the house, and we will make a preliminary plan of how to change the property, how to renovate the property, what to add to the property. And how much it should cost us.

13 (Quotation

Women bid on the property, and hopefully it will catch on. What price will we offer? And what is the best way to communicate with the seller?

This will be detailed in the next post ??

Good luck ????

* Everything said here is a recommendation, and should not be seen in writing as a way that guarantees success. It is advisable to consult an accountant, lawyer and professionals, before making decisions about buying a property.