By James Dainard

To help you demystify the process and get the most out of your investment purchase, we’ll examine what you’ll need to consider before you buy and what you can expect from the buying process itself.

Considerations Before You Buy

The first thing you’ll need to determine is what your long term investment goals are and how real estate investment fits in with those plans. Here are a few questions to ask yourself

  1. What type of investment best suits your needs?

You have several options when purchasing a residential property: a traditional single-family home, a townhouse, a condo, or a multi-family building with two to four units. Each option has its pros and cons, depending on your goals, so you need to decide which type of property will help you reach those goals.

  1. What specific features will your ideal investment have?

The first thing potential buyers will notice is the house’s appearance. Is it updated? What draws their attention first? You have to spend money to keep your investment fresh, but with a keen eye and attention to detail you’ll attract the right buyer and recoup your investment. Your list should include basic desires, like neighborhood and size, all the way down to smaller details like bathroom layout and a kitchen that comes with trustworthy appliances. All of these will need to be considered because if they need to be updated you need to consider that cost.

  1. How will you finance your investment?

Cash purchases are ideal. But often investors need to borrow from a hard money lender. Heaton Dainard’s sister company Intrust Funding’s loans are designed to be used temporarily until the loan can be paid off with cash, property sale, or a bank loan. Intrust Funding offers time-sensitive solutions for your real estate funding needs. Intrust Funding’s efficient draw request process allows for your remodel to be completed quickly to ensure a high return on your investment.

  1. Who will help you find a home and guide you through the purchase?

Heaton Dainard’s expertise can guide you during the buying and selling processes. In 2016 Heaton Dainard sold over 475 properties, with $180,000,000 in sales volume. Let us help you decide where you want to invest, and what funding you need to take the next step.

Have you been to our free Investor 101 Class? Please join us every other Monday to meet our team and learn about the investment process. Visit our website for more information.

About the author …

James Dainard is Co-Founder and Managing Principal at Heaton Dainard. As aManaging Principal, he is responsible for the development and execution of corporate strategies, marketing, and property acquisitions. James has been actively investing in multifamily and single family units in the Puget Sound region for over ten years, and leads a dynamic team that exceeded sales volumes in 2016 of over $180millionwith over 470 closed transactions. His business acumen adds value to Heaton Dainard by providing investors with inventory and multiple exit strategies.Jan1es graduated from University of Washington’s Foster School of Business with a focus in finance and marketing, and was recently recognized as Co-Founder of one of the Washington’s Fastest Growing Private Companies in 2013, 2014, 2015, 2016, as well as one of Inc. 5000’s fastest growing companies in America 2015 and 2016.

REAPS is the oldest – and largest – Professional Association for the real estate investor this side of the Mississippi.” We provide education and networking resources for real estate investors, those who want to be investors and anyone who provides value to our members. Our goals are to motivate and support our members and guests through education, discussion, legislative action and networking. We host over 40 live events a year around Puget Sound and they are all open to the public. If you’ve never attended one of our meetings, just email our office at [email protected] and be our guest for free.”

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