Preparation

Before you start shopping for your property, it is a good idea to make some preparations.Build Your Green File.
A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

•  Financial statements

• Bank accounts

• Investments

• Credit cards

• Auto loans

• Recent pay stubs

• Tax returns for two years

• Copies of leases for investment properties

• 401K statements, life insurance, stocks, bonds, and mutual account information

Check Your Credit Rating.
Your credit score will have a huge impact on what type of property you can buy, and at what price.

Be Careful With Your Finances.
Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.