--- title: "Investment Property Ownership: Finding the Right Property" description: There are many places to find available properties and once you do, several important questions to ask before financing an investment property. image: https://go.hfcu.org/hs-fs/hub/118438/file-1272267817.jpg --- [![MoneyWisdom_HFCU_r2](https://go.hfcu.org/hs-fs/hubfs/MoneyWisdom_HFCU_r2.png?width=464&name=MoneyWisdom_HFCU_r2.png "MoneyWisdom_HFCU_r2")](https://go.hfcu.org/blog) Filter by Category** - [Show All](https://go.hfcu.org/blog) - [Security](https://go.hfcu.org/blog/topic/security) - [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance) - [Auto](https://go.hfcu.org/blog/topic/auto) - [Business](https://go.hfcu.org/blog/topic/business) - [Credit Score](https://go.hfcu.org/blog/topic/credit-score) - [Home](https://go.hfcu.org/blog/topic/home) - [Credit Cards](https://go.hfcu.org/blog/topic/credit-cards) - [Life Changes](https://go.hfcu.org/blog/topic/life-changes) - [Insurance](https://go.hfcu.org/blog/topic/insurance) - 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[Pets (1)](https://go.hfcu.org/blog/topic/pets) - [dormant account (1)](https://go.hfcu.org/blog/topic/dormant-account) - [inactive account (1)](https://go.hfcu.org/blog/topic/inactive-account) # Investment Property Ownership: Finding the Right Property ** [Phil Purcell](https://go.hfcu.org/blog/author/phil-purcell) ** Nov 09, 2017 ![Man touching electronic house icon.jpg](https://go.hfcu.org/hs-fs/hub/118438/file-1272267817.jpg) There are many places to find available properties: MLS listings, your local newspaper, word of mouth, [loopnet.com](http://loopnet.com/), or a For Sale sign at the property. You can also join local chapters of the [National Real Estate Investor Association](https://nationalreia.org/) or [Real Estate Investment Club](http://www.biggerpockets.com/rei/real-estate-clubs/). They’re great sources of information for both the novice and expert investor. Want to keep your search simple?  Find neighborhood that you like and look for signs.  Also, keep an ear out for multi-property owners looking to get out of the business. Now, what do you do when you find a property that looks good to you? When you locate a property you’re interested in, there are several important questions to ask, including:  - Is the building fully occupied? - Are all tenants paying rent? If not, why not? - How do the property's rents compare with other comparable rentals in the area? - What’s the local area like? Is the building close to schools, parks, transportation? - Is the area renter-friendly? What’s the turnover rate? - Does it offer appropriate amenities for the rent charged? After you’ve gotten the answers to all of the above questions and the property still looks appealing, ask to review the owner's [Schedule E](https://www.irs.gov/pub/irs-pdf/i1040se.pdf), Supplemental Income and Loss statement, which will show the latest rental income information and all related expenses on the property. This will give you a good idea about the kind of cash flow you can expect if you make the purchase. You should also make sure there are **no environmental concerns** at the property. Once you become the property owner, those problems become yours, so be sure to ask the current owner if any such problems exist. Lead paint is also a potential issue, especially if you’re renting to families with small children. It’s expensive to clean up, and a serious liability if you don’t. Finally, get a **home inspection**. Though they aren’t required by law, this is a great way to learn about any issues that exist and potential problems that might come up in the near future. You can never be too careful or thorough when you’re making this kind of investment. A little cash up front can save you from losing a lot of cash down the road. If the thought of locating just the right property sounds overwhelming, your first stop should be the credit union. Just contact our lending team at CommercialLending@hfcu.org  We've been in this business for a long time and can offer suggestions about brokers, properties, and loan options. You can also learn more about investment property ownership and financing an investment property by downloading our [free eBook](https://hfcu.hs-sites.com/financing-an-investment-property). [![Link to download Hanscom FCU investment property guide](https://no-cache.hubspot.com/cta/default/118438/8973801b-ed35-4b46-b047-76056583a047.png)](https://cta-redirect.hubspot.com/cta/redirect/118438/8973801b-ed35-4b46-b047-76056583a047) Others are reading: - [The Keys to Successful Investment Property Ownership](https://go.hfcu.org/blog/bid/183564/the-keys-to-successful-investment-property-ownership) - [How to Find the Right Broker for Your Investment Property Purchase](https://go.hfcu.org/blog/bid/183565/investment-property-ownership-starts-with-the-right-broker) - [Is Investment Property Ownership Right for You?](https://go.hfcu.org/blog/bid/183562/is-investment-property-ownership-right-for-you) - [6 Tips to Max Your Investment Property Profit](https://go.hfcu.org/blog/bid/183568/investment-property-ownership-6-essential-tips) - [The 5 Top Questions Investment Property Buyers Ask the Pros](https://go.hfcu.org/blog/the-5-top-questions-investment-property-buyers-ask-the-pros) ** [Investments](https://go.hfcu.org/blog/topic/investments), [Investment Property](https://go.hfcu.org/blog/topic/investment-property) [** The Keys to Successful Investment Property Ownership ](https://go.hfcu.org/blog/bid/183564/the-keys-to-successful-investment-property-ownership) [** How do I secure financing for an investment property? ](https://go.hfcu.org/blog/bid/183567/financing-an-investment-property-how-do-you-secure-it) ### About Author ![Default Author Image](https://cdn2.hubspot.net/hubfs/476360/Blog%20Template/Images/default-author-thumbnail.jpg) Phil Purcell Related Posts [![Here's The Difference Between An Heir And A Beneficiary](https://go.hfcu.org/hubfs/grandparents%20on%20beach.png) Here's The Difference Between An Heir And A Beneficiary ](https://go.hfcu.org/blog/whats-the-difference-between-an-heir-and-a-beneficiary) [![What You Need To Know About Paying Taxes On Crypto](https://go.hfcu.org/hubfs/What%20You%20Need%20To%20Know%20About%20Paying%20Taxes%20On%20Crypto.png) What You Need To Know About Paying Taxes On Crypto ](https://go.hfcu.org/blog/what-you-need-to-know-about-paying-taxes-on-crypto) [![What is a Share Certificate?](https://go.hfcu.org/hubfs/black%20woman%20looking%20out%20window%20sitting%20in%20front%20of%20laptop.png) What is a Share Certificate? ](https://go.hfcu.org/blog/what-is-a-share-certificate) ** - [**](http://www.facebook.com/share.php?u=https://go.hfcu.org/blog/bid/183566/investment-property-ownership-finding-the-right-property/) - [**](https://X.com/share?url=https://go.hfcu.org/blog/bid/183566/investment-property-ownership-finding-the-right-property/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://go.hfcu.org/blog/bid/183566/investment-property-ownership-finding-the-right-property/&summary=&source=CeBIT) ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** The website you are about to visit is solely the responsibility of the merchant or other party providing the site. 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Please consult the privacy disclosures on those linked sites for further information. ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Phil Purcell" }, "dateModified" : "April 18, 2024, 8:15:23 PM", "datePublished" : "2017-11-09 20:30:00", "description" : "There are many places to find available properties and once you do, several important questions to ask before financing an investment property.", "headline" : "Investment Property Ownership: Finding the Right Property", "image" : { "@type" : "ImageObject", "url" : "https://cdn2.hubspot.net/hub/118438/file-1272267817.jpg" }, "mainEntityOfPage" : { "@id" : "https://go.hfcu.org/blog/bid/183566/investment-property-ownership-finding-the-right-property", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://cdn2.hubspot.net/hubfs/118438/Logo%202.jpg" }, "name" : "Hanscom Federal Credit Union" } } ```