Updated over 9 years ago on . Most recent reply
Advice while looking for my first property
Hi everyone,
I started my search for my first property (out of market) and could use any/all advice for two questions. And sorry for any very obvious questions; this is the first piece of property I will be purchasing.
1. Order of tasks
I have some market research and have started looking through properties for deals. Should I be securing a loan with my bank first? Does that come after I find a good deal and negotiate a price with the owner? I have very good credit, good income, and just enough capital to fund my first down payment. I'm coming into this with little to no experience in real estate, so I'm completely lost on what I need to be doing first.
2. Building a team
Since I am looking to purchase my first property in another market, who are the essential people I should be looking for my team? I have an accountant that I work with locally, but do I need another one from the market I'm looking in?
I am under the impression I absolutely should find a real estate agent and a property management company to work with in the market. Is there anybody I'm missing?
Thank you all for your help!