{"id":12208,"date":"2019-04-18T15:15:37","date_gmt":"2019-04-18T22:15:37","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12208"},"modified":"2019-04-05T10:02:44","modified_gmt":"2019-04-05T17:02:44","slug":"expert-advice-for-home-buying-investing","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/expert-advice-for-home-buying-investing\/","title":{"rendered":"Expert Advice for Home Buying &#038; Investing"},"content":{"rendered":"<p style=\"text-align: justify;\">Whether you\u2019re a financially-savvy real estate buyer or a newcomer to the market, there are things you must do when planning your home investment. Many real estate brokers say, \u2018Get your team together,\u2019 during the planning stage. What they\u2019re referring to is retaining an attorney, a mortgage broker, and a financial\/investment planner.<\/p>\n<p style=\"text-align: justify;\">In addition to building the right investment team, you should also look at your portfolio to be sure it\u2019s diversified, with some dividend-producing, liquid assets, such as MLPs or REITS. Due dilligence will always pay off in the long term.<\/p>\n<p style=\"text-align: justify;\"><strong>Misconceptions and Reality<\/strong><\/p>\n<p style=\"text-align: justify;\">While some may think the words \u201call cash\u201d automatically generate an accepted offer, there is no such \u201cmagic bullet.\u201d Most first time home-buyers, or new investors don\u2019t have the assets to make an all-cash offer. Banks, mortgage brokers, and condo boards will delve deep and still look into your overall financial picture. If it\u2019s not stable, they generally won\u2019t take a chance on you. Your financial lender will carefully sift through all of your credits, debits, and accounts. Hopefully, the property investor will have consulted a financial advisor before diving into the market. Hilton Capital Management, a boutique wealth management firm in NY, suggests :<\/p>\n<p style=\"text-align: justify;\"><em>&#8220;Our advice is to search out an investment manager. Key attributes of an investment advisor are experience, discipline, integrity and a strong investment process that will succeed in any market dynamic.&#8221;<\/em><\/p>\n<p style=\"text-align: justify;\">Management experts have shown us that the investment business is changing faster than ever since the financial crisis. So, it\u2019s important to have professionals who anticipate, react and adapt to the environment. Your mortgage banker wants to see stable, recurring income streams that show that you are a reliable client.<\/p>\n<p style=\"text-align: justify;\">If you\u2019ve never worked with a financial advisor or wealth management company, it\u2019s best to start that relationship before you plan to purchase a piece of real estate. They can help you make the best investment decisions to meet your objectives, and keep your financial goals on track. Here are a few simple tips for investing.<\/p>\n<p style=\"text-align: justify;\"><strong>The Financial Snapshot<\/strong><\/p>\n<p style=\"text-align: justify;\">History can be captured as photographic moments in time, and your financial snapshot is no different. This aspect of investment planning is one of the most frequently overlooked, even for seasoned investors. Even the most financially literate can forget to examine their credit histories for shortfalls and mistakes before initiating a purchase. The end result of overlooking this part of the planning process is always lost time and resources.<\/p>\n<p style=\"text-align: justify;\"><strong>The Credit Score<\/strong><\/p>\n<p style=\"text-align: justify;\">Banks delve deep into credit histories, personal data, and your other financial information before making approval decisions. The wise home investor will have already scoured credit score information in order to present the best possible financial face long before making an offer.<\/p>\n<p style=\"text-align: justify;\">Make sure you request a free credit report from the three major agencies: Equifax, TransUnion, and Experian, as one of the first steps in your buying process. You must check all three because what may be reported on one may not necessarily be reported on another. Also, it\u2019s possible for incorrect information to show up in these reports, so be sure to scour the reports in case another person with a similar name (i.e. John Smith) might be on your record. If you find errors, you can write the credit reporting agencies, asking for corrections\u2013and this process can take up to six months.<\/p>\n<p style=\"text-align: justify;\"><strong>Closing<\/strong><br \/>\nBefore you walk into the deal closing an investor should know the overall cost of the investment. The purchase price is just part of the overall expenditure since appraisal coast, points, attorney fees, and other up-front costs occur for every home purchase. Your investment journey is not over once the document signing is over. The wise investor will have reviewed the budget and the whole investment portfolio. If there is no portfolio, the end of the first closing is a good time to start one.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/realtybiznews.com\/expert-advice-for-home-buying-and-investing\/98753668\/\" target=\"_blank\" rel=\"noopener noreferrer\">Expert Advice for Home Buying &amp; Investing<\/a> by Al Twitty | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re a financially-savvy real estate buyer or a newcomer to the market, there are things you must do when planning your home investment. Many real estate brokers say, \u2018Get &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/expert-advice-for-home-buying-investing\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-12208","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Expert Advice for Home Buying &amp; Investing &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/expert-advice-for-home-buying-investing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Expert Advice for Home Buying &amp; Investing &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Whether you\u2019re a financially-savvy real estate buyer or a newcomer to the market, there are things you must do when planning your home investment. Many real estate brokers say, \u2018Get &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/expert-advice-for-home-buying-investing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/expert-advice-for-home-buying-investing\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Expert Advice for Home Buying &#038; 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