HomeVestors Says Inexperience Can Lead to Poor Property Selection

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HomeVestors has purchased many properties over the last few years. Their work with distressed homeowners and real estate investors has helped them to navigate the real estate market without some of the problems inexperienced investors make.

Without a lot of guidance, novice investors are left holding properties they are never able to rent. Before purchasing a property, starting investors should consult other real estate investors for advice. Although there are lots of people and professionals that will offer you advice, be leery of any that doesn’t come from someone that has investment experience. Most of the time, the advice on properties doesn’t fit what an investor really needs.

Inexperienced investors have problems locating good areas for rental properties. Usually, they end up in areas where no one would want to live or in areas saturated with rental homes. In both cases, it is virtually impossible to rent or sell these real estate investment properties.

Be wary of locations with more than one or two rental homes. These areas are not stable and less likely to appreciate in value. In addition, there is too much competition in that area.

When finding properties with potential, be careful of the kind of potential being described. New homes are gorgeous. However, buying one now starts dating the home. Trying to sell it later only leads to buyer disapproval. After all, they can just get a brand new one right down the road.

This means when an investor is looking for future potential, he should look less for potential decades down the road and more for immediate returns. This includes brand new properties with access to public transportation an hour away from downtown. Instead, invest in the cheap short sales and bank owned properties that are more desirable and could bring profits now.

Real estate investors should not be afraid to diversify. This means that they should consider all sorts of property types, styles, and sizes. Not every family is going to need a 4/2 or even a 5/3. Sometimes, all that is needed is a 1/1 or 2/1 or maybe even a studio loft. Keeping this in mind, real estate investors will have a better chance of appealing to a large segment of the real estate market.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction.  For more information, visit www.HomeVestors.com.

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