First Step When Purchasing An Investment Property

First Step When Purchasing An Investment Property

Purchasing an investment property in Grand County, Colorado is a decision not to be rushed into quickly. It seems obvious, but the first step you need to take before you buy an investment property is deciding the exact type investment you are looking for - fix and flip, long term rental, short term rental or buy and hold. After you know what type of investment you're after, be clear on specifics. Are you looking for a vacant lot? A Condo? A Single family home? 

Is there a certain type of construction you prefer - like the cement board siding for lower maintenance, a new home so it won't have any major replacement costs, or something you can fix up? These questions are a good place to start before you even start looking at return on investment and operating expenses. 

After you've narrowed down all the options and decided on exactly what you want from your investment, you can take a look at this spreadsheet I like to use to compare properties, you can find the link here. 

The last piece of advice I'll give is to not compromise on what you want just to "get in the game." Stick to your plan to minimize your risks, and the right fit will come around. Do you have any tips for real estate investors?

Author: Julie White
Phone: 970-531-7155
Dated: September 16th 2019
Views: 397
About Julie: My goal is to help people with real estate. I am invested in helping people achieve their real estat...