How an Agent Can Help You Buy Investment Property in Yonkers

Given enough time, real estate investing has the potential to produce wealth; however, even with plenty of research, knowledge, and sound decisions, being able to buy investment property in Yonkers can be a huge gamble. It really comes down to picking the right property at the right price. A good agent can help you select the right property and greatly increase your odds of winning the investment game. So let’s discuss how an agent can help you buy investment property in Yonkers.

Access to More Properties

When you have access to more properties, you’re likelier to find one that meets your investment needs and that can produce a profit. An investor-friendly agent will have access to a multitude of properties, many of them not even on the market yet. And those off-market deals can be some of the best purchases when you buy investment property in Yonkers.

A good agent also works with wholesalers and even do some leg work by door knocking to find owners who want to sell for cash. To discover more about the many properties a Yonkers agent will have access to, just call (914) 341-2998.

Identifying Profitable Properties

When you buy investment property in Yonkers, you want to do everything possible to ensure it will be a profitable investment. Your agent will not only have access to many potential properties but will also know how to analyze the data in order to accurately assess profitability.

Here are some important profitability factors that your Yonkers agent can help you with…

AFTER-REPAIR VALUE

This is an important consideration for flippers who purchase investment properties in Yonkers. After-repair value involves looking at such factors as potential property appreciation and trending upgrades, among many others. The main point, though, is that an agent can analyze the market and after-repair value to help you avoid being over-leveraged.

CURRENT RENT TRENDS

Buy-and-hold investors need to know the local market trends in terms of cost of rent when they buy an investment property. Your agent should be analyzing the data to determine if you can charge enough rent in order to have a positive cash flow.

TRADITIONAL BUYER COMPETITION

With current market conditions of low inventory and high demand, (along with competition) you also need to need to know who your competitors are when you buy investment property in Yonkers. The competitors who are of the most concern are traditional buyers who want to purchase a property as a primary residence and are willing to pay more. This is another important area where your agent can provide valuable assistance when looking to buy an investment property.

Calculating Potential ROI

When you buy investment property in Yonkers or anywhere else your only goal is to make money. So you have to calculate the potential ROI on a property before purchasing. And that’s another critical thing your agent can assist you with.  

Take flipping, for example. If everything goes right, you should aim for an ROI of at least 20%. But things seldom go right – most properties have hidden problems. That’s why industry professionals recommend purchasing properties with the promise of an ROI of 30%. With the pertinent data, your agent can help you calculate the potential ROI so that you can make a smart purchasing decision.

Negotiating Better Deals

Maybe the most important way an agent will help you buy investment property in Yonkers is in the negotiations. A good agent can negotiate a better deal than you probably would on your own. 

An agent with solid negotiation skills can get you a lower purchase price and better conditions in the contract, as well as keeping you from falling victim to fraud. The ultimate outcome becomes more money in you or your investor’s pockets. 

Networking Benefits

When you buy an investment property, you’re never doing it alone. It requires the services of a host of professionals such as inspectors, appraisers, real estate attorneys, and mortgage experts. A good agent will have many professional connections and a broad network to pull from to connect you with the professionals you need to ensure you make the most of your investment. As an investor, you need the best information and guidance you can get to make wise investment decisions.

Buy Investment Property with a Yonkers Agent

In short, most investors need an investor-friendly agent who thoroughly understands real estate investing. So when you want to are ready to move forward with an investment property in Yonkers, get the help you need to ensure profitability, contact us today at (914) 341-2998.

Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly. -Steve
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.