Finding Property

Using Your Purchasing Parameters

Finding Property to buy has never been easier than it is in the 21st century!

There was a time when Realtors guarded the available listings like Fort Knox. The only way you could discover what was for sale was to hire them.

How times have changed! Now property listings are readily available to the public with just a couple of clicks. By the time a home buyer calls a Realtor, they usually have done a fair share of Research so they understand what they want to buy and where.

And this usually works great as long as the buyer is familiar with the area the are Purchasing in. But what happens when your available funds are not enough to buy in the area you live? Deciding what area to buy in under these circumstances is a little more daunting.

The first thing every investor needs to do is look at their Purchasing Parameters. These include:

• How much money you have to invest?

• What percentage of the purchase price will your down payment be?

• What ROI (Return on Investment) do you want?

• What is your Creative Strategy?

• What is your Buying Method?

Only after you've answered all of these questions will you know if the area you are trying to buy property in is viable. For example, if you want to buy a Cash Flow home, put 20% down, receive a 10% ROI, and have $25,000 in capital available, then obviously you will not be looking at $400,000 homes (20% = $80,000 down).

Instead, you should be looking for homes in the $100,000 to $125,000 price range, or less.

Using a Home Finding Service available on the Internet, such as Realty Trac as shown above, start looking at different areas of the country that have homes for sale in that price range.

Try to find three different areas that have homes in your price range. Once you are armed with that information, you are now ready to proceed to the next step which will determine if any of these areas will make good investments for you or not.