How do I get started buying investment property?
If you are serious about real estate investing, a call to your Metropolitan agent is the best way to get started. Your agent will ask you about your investment goals and will give you a summary of the Phoenix area market and our service offerings. Our brokerage service doesn't cost you anything because, like any real estate transaction, the seller of the property pays our commission. Our job is to represent you and your best interests. You need to come to us with the basics: desire, motivation, and adequate funds to cover a minimum 20% down payment plus closing costs and prepaid's (earnest deposits, required in order to open escrow, can range from $5,000 to $30,000, depending on product type).

What is the most appropriate product type for me to consider?
This depends largely on your personal investment goals and financial ability. If you are just getting started in real estate investing, a single-family home is probably the best way to get into the investment game. These tend to be reasonably priced, are fairly easy to lease and are the most liquid in terms of being able to sell rapidly.
For more seasoned investors, one of our commercial offerings may be a better fit. Our commercial properties include office buildings, retail centers, industrial projects and apartment complexes. These require you to be involved in the investment for a longer period of time and you must be prepared to weather the many ups and downs of the real estate cycle. The long-term rewards , however, can be especially gratifying. Once again, your Metropolitan agent can help you decide the best product for you based on your investment goals and available capital.

What about obtaining financing?
Metropolitan Financial will work with you to explain our lending process and the various programs we have available. Loan programs are in constant motion based on market fluctuations so we cannot quote you exact terms until you are within days of closing escrow on a property. Loan terms are predicated heavily on your personal credit (FICO) score so the better your credit rating, the better your loan terms. If you don't know your FICO score, you can obtain it by ordering it via the Internet or by calling Metropolitan Financial. Keep in mind that each time a third party checks your score; credit rating agencies place a negative mark on it. So, don’t allow too many outside sources to run credit checks on you.

Once my escrow has closed and I own the property, how do I manage and lease it?
The vast majority of our investment clients do not wish to handle labor-intensive and thankless management and leasing chores. Metropolitan Property Management is here to handle all of your ongoing management responsibilities in order to maximize the value of your real estate asset. Regardless of whether you purchased a single family home, or a commercial property, Metropolitan Property Management can help find or replace tenants, maintain the property, perform necessary repairs and anything else related to managing your investment.

What are my risks in real estate investing?
Every investment has a certain amount of risk associated with it and real estate is no different. Some risks include vacancies, property damage due to weather or tenant negligence and varying market cycles. Although it is impossible to mitigate weather-related property damage or a fluctuation in the market, Metropolitan does everything it can to minimize your risk with regard to tenants. Our aggressive marketing program greatly minimizes vacancies and ensures high quality tenants with thorough background checks, financial and employment verifications and detailed rental history. This valuable information helps us find the right tenants for your property. Then, you get the final say as to who moves in.