How to Find the Best Investment Property

July 1st, 2010 posted by admin
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How to Find the Best Investment Property

If you are quite bothered about investing in properties at reasonable rates then you have a right to being that way! With the global crisis having it advent in the property market it is difficult these days to find the best investment properties.

The Empty Homes Agency (EHA) is a charity organization set up in the early 1990’s to earmark the number of empty households in this country. The number is alarmingly high given the ongoing housing crisis or these houses could also have been snapped up by canny investors years ago looking for home equity release. Those looking for a house would not occupy properties that have not been inhabited for a long time owing to the time and money that goes into repairing the place!

Many such properties can be found since most of them would be deserted with no obvious indication of being put for sale. It is easy to assume that such properties cannot be purchased because the owners cannot be contacted. This is where the EHA comes in, suggesting potential investors dig a little to discover the identity of these owners. Another good idea is to leave a note about your contact details on the doors so that the owners may contact you. Enquiring of the local residents and shopkeepers can also be done.

Another great place to search for investment properties at reasonable prices is at the property auctions. Many home owners use these auctions looking to sell their properties to the highest bidder mostly due to other compelling circumstances. Chances are high for locating a good property at these auctions since mortgage providers would have re-possessed a property which may be damaged to such an extent that owners have little time or money to even make amendments to the property. Local estate agents can be found in the Yellow Pages and other local directories and is a good place to look. It is not advisable for an inexperienced investor to participate in an auction without a clear understanding of the legal issues that are a part of it.

Keep in mind that finding good investment properties will take some time and will require careful thought.