There are some ‘golden rules’ to follow when buying an investment property, rules that have stood the test of time.
Before we jump into those rules, you need to look at the investment and decide if you have a short-term focus for the property or a long-term one. A short-term focus would likely mean that you would purchase it, renovate it and sell it as fast as possible – making the biggest profit possible in the shortest amount of time. A long-term perspective means that you would purchase the property to hold it, possibly add some upgrades, then rent it out for the highest rent possible.
So what are the golden rules:
1 – Set your rules and know the market: That means know what sort of properties you are after and how…
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