Searching for the Right Piece of Land or Property to Meet Your Goals
Sunday, September 18th, 2022 - By Amber Nestor - TN Real Estate Broker
Today's post will be focused on offering advice to first time land, or first time home, buyers. Some of this might be helpful to those searching for a 2nd or 3rd investment property.
Often times when buyer's contact me, they have some idea in mind of what it is they want to be able to accomplish, OR of what they want their new potential property to accomplish for them.
A lot of times there might be a round-about way of reaching those goal sets that my buyers have not considered yet, OR a different way of searching for that type of property.
I also see that sometimes buyers contact me and start by saying things like, "I know that's probably going to be impossible." Or they say things like, "I'm never going to be able to find what I am looking for, so I probably need to settle for..." But, I am here to share some good news with you: reaching your goals may be more possible that you realize, and especially in the next 12 months, as we are seeing trends that home prices are beginning to soften gently (however land prices are not being affected as much because those did not inflate as much as home prices did - that a different market, and a discussion for another day).
When working with a buyer I will have introductory and follow up phone calls with them periodically for brainstorming purposes. In between those calls, we mostly we exchange info via text (and when more detailed email). I send buyer's reports to browse and data and details regarding a plethora of research factors, and buyer's send me their next favorite property of interest to research, verify, preview, photograph, etc.
This process volleys back and forth until we identify the target property. This the property that is best suited to meet your goals, and produce for the buyer the experience, or outcome, they are seeking, in the short term, AND in the long term.
My advice for buyers is don't let someone tell you that it is not possible to accomplish what you are wanting to accomplish. There is usually a way. And, the more patient you able to be in this search, the better the likelihood of your success. In contrast, if you have a short time frame in which to meet a goal, that will limit your options to some degree, certainly.
We appear to finally be entering into a market that is calming it's pace of things, which is a wonderful thing, and balances the playing field for buyers and sellers.
The best advice a first time land, or home buyer, can take is this:
Position yourself.
Analyze your Credit on https://CreditSesame.com
Talk with a professional agent about credit and lenders.
Save money.
Print your bank statement each month, and go through it to examine where you can reduce expenses.
Practice the habit of setting up minimum payments plus $10+ to automatically come out monthly.
Practice the habit of sending in an extra payment monthly.
Set up a debt free calendar with timelines to chart your progress and celebrate the little things.
Be aware of phenomenal healthcare plans, and other types of insurance, and utilize those to minimize unexpected expenses, and create long term stability.
Learn how to reduce your tax burden properly, and study those tax strategies carefully.
Simply you life and become more organized each day.
Make a list of the things that are most important to you in a property investment, and hold out for the property that will best meet your needs, wants, and goals for both short term, and long term success.
Thank you for visiting, and I look forward to working with buyers and sellers, for all of your property analysis, research, advertising, and searching process needs.
I pray God blesses you with health, wealth, and peace.
Amber Nestor - TN Broker - Land, Luxury, & Lakefront Specialist
