All About Cheap Investment Property for Sale in Opa Locka

Cheap Investment Property for Sale in Opa Locka

cheap investment property for sale Opa Locka

It is an irrefutable fact that you want to make huge profits when you look forward to buy an investment property. Therefore, when you want to make your profit, you must try to purchase a property at a price so that you get desired profits.

In simple words, you need to purchase smart. If you overpay for a property, you will not make your investments worthwhile. We all know that you can’t predict but you know where it’s at today.

In this blog, we will share some crucial information on a cheap investment property for sale in Opa Locka.

Shopping Criteria

Shopping criteria – you must try to lock all your profits in the beginning. The time you start looking for a property, you must define your selection criteria. Real estate is no different to shopping. When you shop, you must try to buy things that are profitable. Real estate is an exciting field. It has an array of niches and strategies.

Creating Your Selection Criteria

You must look into a number of selection criteria, when you buy any property:

  • Criteria

  • Town

  • Neighborhood

  • Property Size

  • Lot Size

  • Property Conditions

  • Number of Units

  • Cap Rate

  • Cash Flow

  • Appreciation Potential 

Understand “The Rules” of Investment Property

Perhaps, when you invest in real estate you need to look at some basic elements such as income, cash flow, and return on investment. You need to determine the amount of income that can be made from the property.

Rule 1 – 2 Percent Rule

As per the 2% rule, the monthly rent must be about 2% of the purchase price. However, it is difficult to achieve 2%. You can look for closer to get the better cash.

Rule 2 – 50 Percent Rule

The 50% rule is the rule-of-thumb. As per this rule, 50% of your income must be spent on expenses. This includes repairs, vacancies, utilities, taxes, insurance, management, turnover costs, and the roofs. As per 50% rule, there are many unexpected costs associated with a project, so you must plan for them ahead.

Rule 3 – 70 Percent Rule

The 70% rule states that you must only pay 70% of the after repair value. It must be lesser than the repair costs.

When you know your criteria set, the time has come to look forward for an ideal investment property. You may contact the house owners who have put the signboards – “For Sale” signs in front of homes.

In this section, we have shared some of the ways to find the cheap investment property for sale in Opa Locka.

The MLS

The Multiple Listing Service is the best place to look out for different real estate brokers across the country.

The Newspaper

You can check the ads section in the newspapers. At these places, you will find best properties matching with your criteria.

Word of Mouth

Word of Mouth is the oldest and one of the best ways to look for properties for sale. In this way, you direct contact with the peers and find the best properties matching with your criteria.

Lastly, you can always contact Click Cash Deals to find the cheap investment property for sale in Opa Locka. So, what are you waiting for? Contact us now!

Also Read:

Top 4 Reasons Why It’s a Great Time to Invest in South Florida Residential Real Estate

South Florida Real Estate Investment – Whats Up?

Things To Know Before Investing in South Florida

10 Questions To Help You Determine Your Investment Strategy in South Florida

Tips and Tricks for New Real Estate Investors In South Florida!

Wholesale Properties Tallahassee Fl

Distressed Properties for Sale in Doral FL

How to Find Foreclosed Properties for Sale

Income Property for Sale in Miami FL

Off Market Properties in Hollywood FL

 

Looking For Investment Properties?

Fill out the form below to join our "Preferred Property Buyers" list and for local real estate updates too!

Enter Your Information Below To Get Immediate Access

... to our HANDYMAN specials. *These are not on the MLS - Many are below $100k. Available properties on the next page.
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *