As a Rochester Real Estate Lawyer, I often get questions about what precautions to take in buying real estate investment property. The first mistake that I see quite often is buying in a bad location, especially out of town investors that don’t know about the crime statistics, for instance, in a particular location or the availability of public transportation in a particular location. Also, being aware of the utility costs. They should request utility costs for the past two years in which they are entitled to, being aware of what leases are involved, and all this should be spelled out on the contract as well as checking with the local officials to make sure there’s no zoning or building code violations. Also, you need to be able to hire, especially if you are an out of town investor, be able to hire a good property manager.
Are you about to buy real estate and want to make sure you don’t make any mistakes? If so, contact the experienced Rochester Real Estate Lawyer Robert Friedman.
This educational post was brought to you by Robert Friedman, an experienced Rochester Real Estate Lawyer.
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