Residential Income Investment opportunities are fast moving and highly sought after. Our South Florida marketplace is very competitive. I recommend being prepared if you want to participate and succeed in the hunt. Here’s how:

First, have your proof of funds available. POF should be in your name or in your company’s name, but ready just the same. If you are planning to finance then your pre-qualification letter should be in hand. Both POF and PQ should be dated within the past 30 days and kept current. The PQ should be signed by a human being with contact information to reach the signor directly.

Next, a proper search should be set up in the Multiple Listing Service by an experienced Realtor® who knows the area inside out and is willing to work with your goals in mind.

Once you are acquainted with everything that is currently available in your price range you may determine that the property you’re looking for is or isn’t there. If it is there, don’t hesitate. Crunch your numbers. Your Realtor should provide a rental analysis including current rental prices paid, average marketing time and the rate of return you should expect. Don’t forget to factor in your costs for acquisition, carrying costs, taxes, insurance, repairs, real estate commissions, etc. If everything lines up and it is attractive to you then make your move and don’t dally making it because you are not alone considering it. Be prepared to compete with multiple offers. We are seeing price wars all over again on attractive investments.

If a suitable investment isn’t there, then develop a plan of action with your Realtor® for when a possible investment opportunity appears. Keep your POF or PQ current and ready, make sure your search criteria is configured to alert you both via email/text immediately when new listings are placed on the market and remain vigilant.

If you don’t have a Realtor® that you can trust to cover these bases each and every time and you want to save time, money and avoid inconvenience then you are welcome to call me direct for help achieving your Real Estate Goals.

Your friend and partner in success,

“Broker Joe”, Grano, REALTOR®