Home Buying in East Windsor>Question Details

leeank, Real Estate Pro in Princeton, NJ

I am thinking of buying an investment property a small condominium or a town house. Not sure what areas to look for where I can put it on a rent and

Asked by leeank, Princeton, NJ Tue Mar 22, 2011

I am thinking of buying an investment property a small condominium or a town house. Not sure what areas to look for where I can put it on a rent and after all expenses still can make some money. Also anybody have idea about lawyers or investment property specialist where I can get some guidance.

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4
Hi Leeank,
Our office periodically holds investor seminars which helps clarify the process. If you are interested, please feel free to contact me and I'll send you an invitation to our next event.
Best,
Diana
0 votes Thank Flag Link Tue Mar 22, 2011
Leeank - Let me offer a little advice. Do your home work before you make a purchase I am representing someone with a short sale right now and I see more coming where rentals are not being rented or they are having to evict or they are poorly managed. It is important to select an area where you will be able to keep it rented and a property manager that is going to be able to market it like it should be and keep it managed and rented. As an investor myself, I have had problems with management companies. College town when you are close to a college, where they can walk or bike to class do well. I have seen successes again the key is the right property manager and the location of the property and a manager that will list the rent in the MLS and also run a credit check with the renters/students having their guardian co-sign helps with students. It did with my student as I paid the rent and even went over to make sure it was left as should be to get the deposit back.

Once you decide where you would want to be - find yourself a good buyer's agent to help you with your purchase the seller generally pays their fee when the property closes. For my clients, I help them to find and buy the foreclosure and then help them with finding their attorney, their lender, repair people and what ever their needs are as I am a full service real estate broker.

If you need help finding someone to help you in New Jersey I will also be glad to refer you to a Coldwell Banker affiliate.

Hope all of this helps,

Deborah Rigsbee Miller, Real Estate Broker
Coldwell Banker HPW - Durham, NC
0 votes Thank Flag Link Tue Mar 22, 2011
Leeank,
I don't know if you are only considering purchasing your investment property in the NJ area, but there are plenty of good opportunities here in the Sarasota/Bradenton market. Let me know if you are considering Florida as one of your options for investment and I would be happy to assist you.
Sincerely,
Aaron Ruben
Broker/Owner
Coverstone Realty, LLC
941-343-3880
0 votes Thank Flag Link Tue Mar 22, 2011
Hi Leeank,

I will be more than happy to sit down and do a consultation with you to discuss your needs and preferences, after which I can show you what is going on in the different market areas. This will give you an idea of where homes are selling faster and what factors are important to consider before deciding on the area.

You can email me at mang@weichert.com. I look forward to assisting you. Thank you.

Shubee
0 votes Thank Flag Link Tue Mar 22, 2011
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