Maybe you’re looking to buy an investment property outside of your area. The property looks great in the pictures, the net operating income and the CAP rates are excellent, but how do you know the area in which the property is located suits your criteria? Before you spend money on an airline ticket there is something you can do, something that will only take a few minutes of your time and costs no money.
Or maybe your son or daughter is being relocated in another part of the country and he/she needs a place to call home. I know your heart will be broken but after getting used to the idea that your child is not moving away from you but is moving away to better her life there are few things you may want to help with. You want to be sure your child will be living in a safe place and below are a few tips of how to accomplish that.
Spend a few minutes checking out this free internet tool at NeighborhoodScout.com. This tool ranks neighborhoods into four shades of blue, with dark blue being the safest. You can also input the address of the property you’re looking to buy or the apartment your kid is planning to rent, and voila, you’ll get all kind of “goodies’ about the area.
Another excellent tool is SpotCrime.com. It describes each of the crimes committed in a neighborhood – shootings, assaults, robbery, thefts, vandalism, etc. If you invest your hard earned money in a property outside of your city you may have preferences of location based on the crime rate. If your kid has chosen an apartment because it was less expensive be sure to check the neighborhood crime before committing to a lease agreement. Sometimes a higher rent is justified considering our kids’ safety is priceless.
One of my favorite research tools is City-Data.com. Free demographics provided on this website allows me to better understand the economy and real estate values. These reports include population, income levels, demographic trends (are people moving out), and the crime rate.
Last but not least another important internet tool is available when you are ready to (instantly) place your commercial loan. This easy to use website is called C-Loans.com. C-Loans is the largest of the commercial mortgage portals, and it enjoys 750 different participating commercial lenders.
The user merely inputs his commercial real estate loan request and then chooses six of the suggested thirty commercial lenders. If none of the first six commercial lenders wants to make his commercial real estate loan, the user merely comes back and checks the next six commercial lenders. And best of all? C-Loans.com is free!