You may have decided that the smartest thing you can do right now is to buy in what is truly a buyer’s market. And if this is your decision then you are correct. There has never been a better time to buy and right now the doors have been opened again for not only traditional and conventional loans but also for financing investment properties.
It wasn’t very long ago that when you turned on the news you saw people peering into the windows of their banks, beating on the glass, begging the banks to release their money because the banks were shutting down.
At this time, nobody was buying, and nobody was financing anything.It has not been very long that the economic market has seen some very subtle changes, and now the buyers are buying and the banks are lending. They are also financing investment properties so there are some very big things that you can get in on if you are savvy and act quickly.
There is truly no time to waste. Rates are at the lowest that they have ever been and slowly but surely more and more buyers are jumping out there and trying to find the deals. There are still foreclosures out there in droves, and if you are buying them for rentals, this is a very smart move.
Lenders are still financing investment properties, knowing that the purchase price is well below appraised value in most cases. So how do you find these properties? There are several websites that you can go to and find them, however, if you want the most up to date listings, then you should really be using a Realtor.
Realtors have the most up to date information in their Multiple Listing Service. As a buyer, you do not pay your Realtor. The fee for the Realtor is paid by the seller’s Realtor. The seller has already agreed to how much commission he or she will pay the listing agent. The listing agent agrees to share a percentage of his commission with the company that brings that buyer.