Posted by: Roby Robertson | May 18, 2009

Lake Norman Real Estate;Thinking of Investing?

Lake Norman Real Estate|Do Your Homework

Lake Norman Investing Needs Cash

Did you know that according to the National Association of Realtors 40% of foreclosures of Investor Owned?

The reason is because of some investors jumped in without doing the due diligence needed to ensure success.

Things to Do?

  1.  Hire an experienced agent that can assist you with all of the following:
  2. Make sure you know the costs associated with repairs.
  3. Make sure your agent does a thorough assessment of resale marketability
  4. Understand the lending costs for investment homes
  5. Make sure you have a pre-defined threshhold of pain (potential months of sustaining losses due to time to find a tenant or sell)
  6. Make sure you understand what the potential rental income will be
  7. Make sure agent understands the various areas of Lake Norman with regard to future development
  8. This is a short list of the obvious things investors should think about.  Things will come up during the due diligence and all investors should be prepared to walk away.  Removal of any and all emotional ties to a property is a must.

If you need assistance with Lake Norman Real Estate, please contact your Lake Norman Agent at 704 451 7051.


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