Develop a Purchase Strategy

Once you have determined your goals and needs, found a Prescott income property advisor, and established a rapport with your lender, you are ready to work with your advisor to develop a concentrated plan of attack.

Start by writing down your timeline for searching, acquiring, and renting out your income property. Browse the homes in the Northern Arizona MLS which includes all types of Prescott area real estate including residential, income property, commercial, vacant land, and business opportunities. (If you don’t find the type of Prescott real estate you are looking for in the MLS system, contact usand we will canvas all of the property owners in Prescott to find a seller.) Then subscribe to the Instant Notification* system that will automatically update you whenever a new listing that meets your criteria comes on the market.  The faster that you are able to identify a property compared to your competition will improve our chances to acquire it if it meets your criteria. The good ones move fast and you don’t miss your window of opportunity… Be prepared to visit as many income properties as possible that match your preferences and be ready and able to present an offer quickly when the right income property comes up. However – be patient. Locating a good income property may take time. You may get lucky and find the perfect property right away but often it takes much longer. Don’t expect to wrap everything up within one month. And don’t jump at a property that isn’t great just because it’s the only thing you’ve seen that’s close to your goals. Think about how much you are learning every time you see a property that isn’t right. You are learning how to tell the good from the bad. And when the right one comes along you will have a good frame of reference to make an informed choice and be confident that you are making the right move.