1. How are you going to pay for it? Traditional financing can be difficult to obtain for properties right now unless you have a substantial down payment and stellar credit. Home equity loans on primary residences can also be a challenge to get in this economy. Consider sitting down with a reputable, local banker, discussing your needs and goals and acquiring a line of credit. Other options include hard money lenders (if you are planning on rehabbing a property and selling it), private investors (consider multiple investors so risk is leveraged) and, of course, good old cash.


2. The better your CASH position, the better your negotiating power. Be prepared to PROVE you have the funds ready to purchase or a loan already approved and ready to go.


3. Do your homework. Know your real estate market. Know what sells easily and what doesn't. Even if you plan on holding this property long-term, you still want to have a property that could be easily liquidated if needed. Is the market saturated in a certain area, price range, style? What type of properties are in high demand? What areas are the most popular?

4. Find a real estate agent who understands buying property…especially investment property. In a second home market like Provincetown and Truro in Cape Cod, most purchases are long term investment purchases. You want an agent who understands the ever changing market, the rate of return, income valuation and forecasting future value. You also want someone who understands your goals, your timeframe and your needs.

5. Choose your real estate agent wisely, make sure the agent represents you and ask about their policy on dual agency (where 1 Broker represents both the buyer and seller….in this case, no one has your best interest in mind). Understanding the laws of agency in real estate will help you to understand the level of confidentiality and representation you have with your agent and will help you in your negotiations. Brokers at Camuso Real Estate work as designated agents so you are guaranteed representation whether you're a Buyer or Seller.