opinion

How do I know if I am buying a lemon or not?

By Mark Rooney
0

blogsmallHow can I be sure I am not buying a lemon of a property?

Blogger: Mark Rooney, Investinus Group


This is sometimes a difficult question to answer as why people invest in certain areas is usually up to an individual. In Australia, for example, we have investors who swear by blue chip investment areas such as Sydney’s inner west and eastern suburbs, whereas the greater majority of investors head out to the outer western suburbs.

Each area is very different yet investors flock to both. This is the same in the US property market, although there are more like a few thousand different property markets, each area has something different to offer. I have had success in the US market because I built the infrastructure first, such as finding the key people first, working with their expertise and understanding of the market and then continuing to build a stronger relationship with them. I often get asked by people to get them the best property management team or the best property for them, I more often would say let’s get the right property management team or the right property for your investment dollars.

My advice is simple to overcome the concerns of not knowing if you have purchased a good or bad investment property and that is stick to the investment strategy that works for you, find the best possible way to implement that strategy, cash, SMSF, equity financing, loans or private loans then work towards the exit strategy. Very few people have an exit strategy when they enter the investment; it is something I encourage all investors to think about. Then last but not least the difference between success and failure is the team on the ground securing your investment. Make sure they have the property management team and system that works. Remember you don’t want the best property management team, you want the right one.

Happy investing!

 


About Mark Rooney
blogbig

Mark first found out about the advantages in the U.S real estate market in February 2002, whilst on a business trip to Canada and the U.S.A. The initial contacts made were able to assist with learning and studying the market place and how an Australian can invest into the U.S market safely and also have assurance that a team there can protect the asset.

For the next 4 years Mark researched the U.S real estate market and looked for opportunities to build further relationships with people. Over the next few years Mark gained an understanding of the various cities and what investment outcomes they provided a foreign investor.

In 2009 Mark was asked to assist others with purchasing property in the U.S.A. This was the initial beginnings of Investinus Group, whose focus is ensuring that their clients have a safe and secure investment in U.S. real estate. 

The group aims to build strong relationships with their clients and the people who work with them, suppliers, property managers, attorneys, accountants and developers.

About the Blogger

Mark Rooney

Mark Rooney

Mark first found out about the advantages in the U.S real estate market in February 2002, whilst on a business trip to Canada and the U.S.A. For the next 4 years Mark researched the U.S real estate market and looked for opportunities to build further relationships with people. Over the next few years Mark gained an understanding of the various cities and what investment outcomes they provided a foreign investor.

In 2009 Mark was asked to assist others with purchasing property in the U.S.A. This was the initial beginnings of Investinus Group, whose focus is ensuring that their clients have a safe and secure investment in U.S. real estate.

The group aims to build strong relationships with their clients and the people who work with them, suppliers, property managers, attorneys, accountants and developers.

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