Let me start with congratulations! As a real estate professional and investor, I understand this is an exciting and serious time. You are on the right track by trying to find an experienced specialist in the area, you want to make sure that they have an excellent background with investments. Do not rule out a property if it is not a foreclosure or short sale, sometimes you can get a better deal by negoiating with the owner or estate vs. banks/lenders.
If you would like I can provide you with an expert in Westfield, our company provides a service through Leading Real Estate Companies of the World. This is complimentry service that specializes in this type of real estate transaction.
Here are some factors that you may want to research before purchasing:
-Find out the top selling neighborhoods/sections by comparing percentages of recently closed properties to homes on the market
-Compare the Days on Market(DOM) for each area as well
-Start with a small home or an Adult Community property to help reduce cost and to ensure a quicker sale.
-Make a spreadsheet before you make an offer (remember you may come across some surprises, so round up and make sure you leave yourself a nice safety net)
-When making your offer, plan on selling the property for lower end of the average. Stay firm, have a set number that you will pay for that property, don't over extend (Don't worry to move on the next property, you will be better off)
-Find out if the property has any underground oil tanks or leaks, do the research in the beginning stages of the deal(I have seen contamination cleanup take up to a year to finish)
-When making improvements to the property, keep it simple and neutral. Do your own landscaping to spruce up the curb appeal, sometimes siding just needs a good powerwashing, replace older windows(most likely you will see this return), replace the roof if needed or find a home with a newer roof as well as central air, refinish or repair old hardwood floors(they come out great), resurface cabinets and replace countertops and hardware, regrout tile in bathroom if it is in good shape, replace old ceiling fans and old fixtures, replace old doors and paint dark panel a cream or off white color(this makes a big difference).
-Be innovative and get the home on the market or sale or rent as quickly as you can. Ask your friends and family to help and have them give you referrals for services.
Please feel free to email or call me with any questions or if you are interested in the complimentry service.
Crossroads Realty-Executive Office