Investing: Steps of Success
A systematic approach is the key to success in any venture. Real estate investing is no different. Below is the system that will bring consistent returns for the real estate investor.
- Investor selects a loan officer and completes a loan application and gets pre-approved for financing.
- Upon approval, Impact Realty Advisors connect investors with sellers of property in order for them to make a purchase.
- Investor signs purchase contract with Seller.
- Investor selects a property management company and signs rental management agreement with the respective property management company selected by the investor. If it is a section 8 tenant they complete Section 8 paperwork and property is inspected and approved by PHA (public housing authority). If it is a straight rent tenant then all necessary approval documentation is processed.
- Deposits for rent are collected and rental agreements are signed with section 8 tenant or straight rent tenant, then tenant is moved in.
- Rent payments are received by the selected property management company and disbursed to the investor each month along with an operating statement.
These are the steps of success for each real estate investor.
