You are interested in purchasing a home. You don't plan to live in it, but you plan to rent it out as an income property. There are plenty of television shows that indicate that this is a good time to make such a move. Is that really the case though? And, if you want to make this move financially, how can you make the best decisions through the process?

Realize There Is Risk

Before getting involved in the investment business, realize there is a significant amount of risk present. You'll have to take on the risk of not having a renter and, in that case, paying two mortgages yourself. You'll also have to handle all investment into the property, from new roofing to a new foundation, if it is needed. Yet, there are plenty of benefits to this process,…

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make_offer_400There are secrets to winning house bidding wars that don't make it into most basic guidebooks.  These secrets are to be used in addition to the normal actions and tactics of bidding to give you an advantage in this arena.  Learn them and use them in your own house bidding negotiations knowing that they will help you get your dream home.

Appeal To Their Humanity

When you submit an offer, you can include a cover letter that details the connections that you feel you may have with the seller.  You can talk about how you want to raise your kids in the house or how your dog will love romping around the spacious backyard.  If you can make this type of connection during the house bidding process without trying too hard, then you might get your new house…

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One of the terms you may come across in the home buying process is an earnest money deposit. In the home buying process, every dollar you spend is important. You need to know what it all means to ensure that you are making the best investments possible. So, what is earnest money?

Earnest money is usually a small deposit that you put on a home that you want to buy. In short, you are providing a down payment at the time of placing the offer to show the buyer that you are serious about the process. It helps to show the home sellers that you are earnest, which means serious. From the seller's point of view, it is unlikely that any buyer would put earnest money down on multiple homes, though some less-than-ideal borrowers may place numerous offers on…

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