Before diving into a decision on a certain real estate opportunity regarding homes for sale in Fort Myers, its potential must be first determined and evaluated. As a real estate investor, every real estate opportunity must bethoroughly assessed. Determining its viability requires evaluating the situation and the numbers, or else you potentially lose money. To successfully evaluate a real estate opportunity before deciding if it’s a worthy deal, consider the following:
Never trust the numbers of the owner.
As an investor, one task you should do involves determining the expenses, leasing commissions, and other related costs, checking these things without bias. The data given by the broker, seller or bank should be double-checked. Check public records, get second opinions and talk to an appraiser. One thing to keep in mind is the vested interest of the owner showing you a great profit. The numbers provided should be questioned if they seem too high or too low.
Property taxes should not be underestimated.
Do not rely in what the present owner of homes for sale in Fort Myers states they have been paying in taxes but instead research for the true property tax amount instead. The sale price will be the basis on your property taxes. To know the accurate numbers, contact the county tax collector office where the property is located. Your taxes will be readjusted if you pay higher than the tax evaluation of your property when you have the property in your possession.
Do not be emotionally attached.
Do not fall in love with homes for sale in Fort Myers instantly. Once you laid eyes upon the first property that catches your attention, always avoid being emotionally attached to it. Before you commit to that property, continue to look for more properties but keep a list of the top 5-10 that you are interested in then narrow down from those 10 which properties bet suit your needs. After doing the required research on your top picks, place an offer on the property of your choice but keep that list in case your offer is not accepted. Again, don’t follow the asking price numbers; instead follow yours along with the advice and expertise of professionals in the business in evaluating a reasonable sale price.
If you have any concern regarding your real estate investment, feel free to contact us