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How To Evaluate Single Family Homes for Investment Purposes

Looking to buy a house or three for investment purposes?

How should you decide in which neighborhoods, subdivisions, and /or zip codes to invest? Just as you might have a punch list for repairing and rehabilitating a home, you should have a checklist for deciding where to invest. Here are a few of the questions you might want to ask:

The Economy

* What is the rent, median income, and affordability of the homes in the neighborhood?

* What’s the unemployment rate and trending rate in the neighborhood you are looking to invest in?

* Who and what are the major industries and companies?

* What is the median income, growth, and trending growth rate of the neighborhood?

Current Home Values

* What is the current discount to peak value price of the home?

* How many distressed and/or foreclosed homes are in the neighborhood vs. the city, state, and region?

* What is the residual value of the land – not the structure?

* Is the housing value growth and trending information positive or negative? * What is the appreciation potential of current homes in the city?

Demographics

* How many, by percent, of homes are owner occupied vs. rentals?

* What is the percentage of owners in the same home for more than five years? * What is the age, married/single, family size, and origin of populace?

* What is the current population growth and trends?

* What is the percentage of population by education level?

Desireability

* What is the distance and access to highways and availability and proximity of mass transit?

* What is the quality of and proximity to local amenities, such as shopping, parks, and entertainment?

* Do the high schools graduate quality graduates?

* How is the crime rate...type, trends, occurrence?

* How long does it take people to travel to work?

In and Around the House

* What factors best translate into a better home, and a better investment, in rehabbing the electrical, central air, furnaces, and plumbing?

* How much should you spend to renovate the kitchen?

* And what about the house’s exterior – the roofing, siding, foundation, and landscaping?

In summary, if you are looking to add value to a home you have purchased for investment – or for a portfolio of single-family homes - start your evaluation with a checklist.

For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at 917-209-4452 or harold.willig@springviewinvestments.com

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 17 years of finance and accounting experience. Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.

This post does not constitute investment, tax, legal, or real estate advice. It is not a recommendation or an offer to buy or sell. No warranties implied. Past performancIe does not guarantee similar future results.

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