Questions to Ask When Buying a Home or Investment Property!

[Gaetano Ciambriello]

When you are thinking about purchasing your first home or investment property, here are the questions you should be asking yourself!

Primary home to live in:

1. When do I want to buy? What does my timeline look like?
2. Where do I want to buy? What neighborhoods or towns am I thinking about buying in?
3. What property types am I interested in? Single families, multi-families, condos, townhomes, etc.
4. What price point have I been looking in for the type of homes that I want to live in?
5. What is my ideal monthly payment?
6. What is my maximum monthly payment?
7. How much do I want to put as a down-payment?
8. How much will my closing costs be?
9. How many years do I plan on living in this home for? Less than 5? 5-10? 10+?

Investment properties:

1. What is my investment strategy? (Short term rentals, mid term rentals, long term rentals, student rentals, sober housing, single family rentals)
2. How much capital do I have to invest?
3. Where do I want to invest?
4. What kind of properties do I want to purchase?
   1. Fully renovated properties vs. Value-add
   2. Core Urban vs. Suburban vs. Rural
5. What is my process for due diligence when underwriting deals?
6. What is my process for due diligence when I am under contract?
7. Do I have a contractor that I can rely on?
8. What is my leasing strategy for this property?
9. How will I manage this investment property?

Happy to give insights or answer any questions you have on the above!