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How to Buy an Investment Property in a Hot Market

Hard money lenders offer fast cash loans in popular Idaho real estate markets

Competitive real estate markets present a challenge for any investor, whether you have years of experience or are new to the investment scene.

If you’re trying to purchase an investment property in Idaho, you’re probably well aware of just how hot the region’s real estate market continues to be. Multiple offers on popular properties mean homes are sometimes selling within hours of going on the market. Online listings are being snapped up before potential buyers are able to even get out the door for a viewing.

When housing inventory is low, it pays off – literally – to be both well prepared and deligent in your property search. Check out the following pointers on how to successfully purchase a home in a tight market.

How to Buy Real Estate in a Hot Market

  • Be financially prepared. Have proof of pre–approval at the ready when the right property comes along. Talk to a hard money lender if conventional loan sources aren’t an option.
  • Do your research. Know your price range and wants and needs in a property, then use online resources to explore the market and possible matches.
  • Partner with a buyer’s agent. Work with an agent who understands your investment goals to increase your access to quality listing opportunities.
  • Offer upfront earnest money. Go to listings prepared to make a substantial earnest money offer (bring a checkbook or be ready to get a cashier’s check, wire or overnight funds).
  • Enlist friends or relatives. If you can’t get there immediately yourself, have someone you trust visit listings of interest – then make an offer with the help of their input.
  • Buy a home under construction. Avoid the pressure of multiple offers – and enjoy the advantages that come with customizing a new purchase.

Prepare. Think creatively. Act quickly. And you’ll have a greater chance of finding and purchasing your ideal Idaho investment property.

Hard Money Loans Provide Fast Cash

Successful real estate investors not only know the ins and outs of Idaho’s hot market, but are savvy about financing. Talk to our hard money lender team at Gregory M. Russell about how a fast, convenient hard money loan can make the perfect investment property attainable. We’re here to help.