INVESTMENT PROPERTY CHECKLIST
Mike & Rita | Onyx Homes | First Team Real Estate
Educational use only. Not legal, tax, financial, lending or investment advice.

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1. THE GOAL
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[ ] Monthly income
[ ] Long-term appreciation
[ ] Family use + investment
[ ] Possible future home
[ ] General wealth building
[ ] Intended hold period: ____ years

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2. CAPITAL
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[ ] Down payment
[ ] Closing costs
[ ] Financing costs
[ ] Initial repairs or improvements
[ ] Furnishings (if applicable)
[ ] Reserves AFTER closing (do not spend every dollar on the down payment)

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3. FINANCING
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[ ] Spoke with a qualified lender before shopping
[ ] Loan type and down payment confirmed
[ ] Rate, term and reserve requirements understood
[ ] Non-owner-occupied classification confirmed

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4. TRUE MONTHLY COST
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[ ] Mortgage principal + interest    $______
[ ] Property taxes                   $______
[ ] Insurance                        $______
[ ] HOA dues                         $______
[ ] Special assessments              $______
[ ] Maintenance reserve              $______
[ ] Vacancy reserve                  $______
[ ] Property management              $______
[ ] Owner-paid utilities             $______
    TOTAL MONTHLY COST               $______
    Realistic market rent            $______
    Estimated monthly cash flow      $______

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5. RENT RESEARCH (BEFORE TOURING)
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[ ] Recent LEASED comparables (not asking prices)
[ ] Active rental competition
[ ] Days on market / price reductions
[ ] Similar floor plan, bedroom count, parking, condition

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6. HOA DUE DILIGENCE
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[ ] Are rentals allowed?
[ ] Rental cap or waiting period?
[ ] Minimum lease length?
[ ] Short-term rentals prohibited?
[ ] Tenant registration required?
[ ] Move-in / move-out fees?
[ ] Pending special assessments?
[ ] Reserve adequacy
[ ] Pending litigation
[ ] Master insurance coverage
[ ] Owner maintenance responsibilities

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7. PROPERTY QUALITY
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[ ] Functional floor plan       [ ] Storage
[ ] Natural light               [ ] In-unit laundry
[ ] Garage / parking            [ ] Outdoor space
[ ] Updated kitchen & baths     [ ] Central HVAC
[ ] Neutral, durable finishes   [ ] Useful bedroom sizes

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8. THE 10 QUESTIONS BEFORE BUYING
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1.  What will it realistically rent for?
2.  What will it actually cost every month?
3.  What happens if it is vacant?
4.  What major expenses could occur?
5.  Are rentals permitted?
6.  What is the HOA's financial condition?
7.  Why will future tenants want this property?
8.  Why will future buyers want this property?
9.  Does the investment still work if our assumptions are slightly wrong?
10. Would we still be comfortable owning it five or ten years from now?

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9. STRESS TEST
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[ ] Rent 5% lower than expected
[ ] One month of vacancy
[ ] HOA increase
[ ] Insurance increase
[ ] A $7,500 repair
[ ] Interest rate change before closing
    Does the investment still feel comfortable?

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10. YOUR TEAM
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[ ] Real estate agents   [ ] Escrow + title
[ ] Lender               [ ] Property manager
[ ] CPA                  [ ] Attorney
[ ] Insurance pro        [ ] Home inspector

Questions? Send us the address before you get emotionally invested.
Mike & Rita | Onyx Homes | First Team Real Estate