Just read a press release regarding the Overseas Portal Reveals Investor Trends for 2008 and it appears that the Western New York region has caught the attention of UK investors. But our office already knew that with our base of UK clients growing every day. DeFranco Real Estate Corp has a specialized lending program for the UK Investor.

David Brennan of Brennan Properties “many clients are flocking to invest in Western New York as the prices are low, the yields are the highest in the world at the moment, the net returns are tremendous, and this trend is set to continue despite the credit crunch which has affected the more affluent states in the USA.” Articles like this are great news for Western New York, the investors are what is needed to turn things around. There are some things you need to consider if you are going to invest in the Western New York that will both make it profitable and relatively stress free.

 

Working with Licensed Professionals

 

What do I mean by that? Well like all investment property you must be in a position to maintain your property properly, collect the rent and report back to you. Your support team is also very important in the selection of investment properties in Western New York.  They are local experts with knowledge of the market and are your best source of information regarding your investment, not just an article on the Internet.  They should be objective and have your best interest in heart.   Not just how much money that can be made from the transaction.

 Important members of your Advisory Team should include:

• Your Real Estate Professional - We are here to help you select potential properties, a good Real Estate professional doesn’t try to sell Real Estate and manage properties at the same time. We must be licensed in the state to work with buyers and sellers of Real Estate.

• Your Western New York Property Manager - In New York State Property Managers must be licensed. Is your property manager properly licensed and insured? Your property manager can be of great assistance in the selection process of purchasing Investment Property. Make sure that you are comfortable with them, get to know them and how they do business.

• Your Home Inspector - Your home inspector will find things that your Property Manager might not see

• Your Contractor - You will need a contractor for repairs and they may be affiliated with your Property Managment team.

• Your Accountant/Financial Advisor - owning property internationally has some complicated tax implications. Make sure you are working with an experienced professional who understands the rules surrounding Foreign owners.

• Your Attorney - Is a great way to protect you and your investment.

• Your Property Appraiser - having a professional appraisal of any property that you are considering investing in just makes good business sense.

We have an experienced team of experts that we can recommend to the UK investor. If you are interested in investing in Real Estate in the Western New York area, we would love an opportunity to discuss with you potential investment opportunities in both Niagara Falls and Buffalo NY. Call our office today at (716) 743-5297.  Or fill out the form below:

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