Far West Realty - Rentals and Propery Management in Prescott
 

Tips for spring buying of investment property

For professioanl help on investment property, contact Far West Realty in PrescottAt Far West Realty we know that purchasing a home can be very nerve racking, buying an investment property in Prescott can be even more so. Everyone remembers purchasing their first home, constantly asking themselves “Did I do all my homework, check the fine print, or miss anything?” When buying a rental property things may be very different however and even though you may have done this before, we would like to remind you of the basics.

First let us say, if you plan to purchase right now, you will be getting in just before the “Spring Home Buying Frenzy”. Prescott is in one of the most beautiful areas in all of Arizona and has some of the best weather our state can offer. This busy season is fast approaching, so now is the time to act to cash in on some great buys in properties before the best deals are gone.

Far West brings you some tips in this fast moving market:

  • Competition in the spring home buying market can be tough. But if you really want that next investment property, here are some tips Far West Realty can give to put you one step closer to closing the deal.
  • Get Pre-Approved by a local lender. Contact one of your local mortgage brokers or local banks and find out what your budget is. A pre-approval letter from a local lender may carry more weight than one from an online mortgage lender.
  • Hire a Local Specialist. Hey, that’s us at Far West Realty. We are your local real estate agents who specialize in the Prescott Tri City area. Far West has spent years accumulating experience and knowledge that you will find valuable in your investment buying process.
  • Are you buying the owner or the house? Focus on the house; Remember, it’s business – don’t take possible Seller responses personally. Stay focused on the end goal of acquiring cash-flow-producing investment. Make sure the numbers pencil so that you do indeed have positive cash flow each month, enabling you to put aside money for future maintenance and improvement needs. Remember location, location, location: be sure your investment is in a desirable area.
  • Be Ready to Pay List Price, but improve on that as much as you can. Make sure your agent shows you what comparable properties are worth in the area. It is difficult to go by what is listed because what sellers think their home is worth and what it actually is worth can be very different. So, pay attention to what prices were actually paid for similar properties in the same or similar areas, within the last 3 to 6 months.

At Far West Realty we are here, a part of your community, working to make a positive difference in Prescott and the Tri City area! If you have any questions about real estate purchases or need property management after the deal is final, contact us at 928-772-9400

 

Posted to: Far West Realty’s Property Management Division

 

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"We have very much enjoyed our apartment as renters with Far West Realty for several years now, and are happily satisfied in our dealings with Dave Hamill and his staff...." read more
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"Working with Far West has been a pleasure. Dave and his office were responsive to questions and needs throughout my three years leasing from them. ..." read more
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"Dave Hamill at Far West Realty was my property manager on a single family house for several years. As an out-of-state owner, I relied on Dave for everything: tenant..." read more
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"I have been using Far West to manage my rental in Prescott Valley for approximately 7 years. I live out of the area know that things are being taken care..." read more
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"Dave Hamill and his team at Far West Realty have managed our property in Prescott Valley for the past five years. It has been an all around pleasant and worry..." read more
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"Dave Hamill and his team at Far West Realty have managed our property in Prescott Valley for the past five years. It has been an all around pleasant and worry..." read more
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"Dave, Re: Our Experience with Far West Realty We have had an excellent experience with David Hamill and his staff at Far West Realty. The goals of the owners and..." read more
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"We originally contracted with another Property Management house in Prescott, but they proved that they were incapable of doing even the most basic of jobs (like keeping the power turned..." read more
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"I was a commercial property manager/leasing agent for 26 years in Newport Beach and I well know that it takes some very special skills and abilities in order to manager..." read more
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"I\'ve had Far West for my property management for several years. They take care of everything and send me a check! They schedule regular inspections so that I..." read more
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"I have been associated with Far West Realty since it opened. Dave has handled my properties and he is excellent. This is the third property management company I have dealt..." read more
- Jane Deleeuw
 
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"Great, dependable, and honest people that meet the needs of their customers..." read more
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"Prior to using Dave Hamill at FarWest, I went thru so many management companies. I have been with Far West for many years now! When Dave says he..." read more
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"My wife and I have used Dave's services since we bought our property in 2011. As absentee owners, we were concerned about managing our rental property and Dave and..." read more
- Larry Blachut
 
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"Best property manager in Prescott area. Dave handled all aspects of the Leasing and managing of our single family home As an out of state owner,..." read more
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"Far West Realty has been my property manager in Prescott for the last six years. Dave Hamill and his crew have done a good job for me. They..." read more
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"David Hamill is very conscientious and professional. If you are considering Far West Realty for property management services, you will be pleased with their expertise, care, and attention.  Your financial..." read more
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Far West Property Management 5 out of 5 based on 17 ratings.
Far West Realty in Prescott AZ - Homes for Sale | Buy Land | Property Management
5 out of 5 stars We have very much enjoyed our apartment as renters with Far West Realty for several years now, and are happily satisfied in our dealings with Dave Hamill and his staff. The very few concerns or problems we have had with our unit have always been met with real consideration and responsiveness. Further, Dave and his staff are readily accessible and always courteous. Tammy and Jim
Far West Realty in Prescott AZ - Homes for Sale | Buy Land | Property Management
5 out of 5 stars Working with Far West has been a pleasure. Dave and his office were responsive to questions and needs throughout my three years leasing from them.
Far West Realty in Prescott AZ - Homes for Sale | Buy Land | Property Management
5 out of 5 stars Dave Hamill at Far West Realty was my property manager on a single family house for several years. As an out-of-state owner, I relied on Dave for everything: tenant selection, lease negotiation, recovery when a former tenant didn't pay the last month's rent, cleaning, maintenance, marketing, managing repair work, etc. Dave and his team were always professional, courteous, competent, and just nice people. I wholeheartedly recommend them!
Far West Realty in Prescott AZ - Homes for Sale | Buy Land | Property Management
5 out of 5 stars I have been using Far West to manage my rental in Prescott Valley for approximately 7 years. I live out of the area know that things are being taken care of. I have complete faith in Dave and his team in the oversight of my property. They are thorough and very prompt in any given situation. I love the fact that I know that the house is being taken care of with TLC. You can't put a price on piece of mind and that is exactly how I benefit from using them. I would strongly recommend using Far West for your management needs. You will not be disappointed.