While real estate prices are down, rents have steadily increased across the country. This makes sense because people who are waiting to buy real estate until the prices go down further will continue to need someplace to live.
If you are an investor, this is the time to purchase properties that make good rentals. What kinds of properties make the best rentals? Here are some things to look for when considering a property as a rental investment:
- Is it close to transportation? This is crucial when you are renting out a property. People need and want to be close to bus lines, railway stations, and other types of mass transit. Look for properties that are within a block or so of mass transportation.
- Are there two bathrooms? Homes with only one bathroom are never desirable, but when they are rentals it becomes even more important to have that second bathroom. A buyer will always feel like they can add one on later, whereas a tenant will want it immediately.
- Is it in a quiet location? No one wants to be in a property that is on a main street, adjacent to a school or next to commercial property. Look for properties that are located on quiet streets and away from the busy, noisy areas.
- Are there an abundance of tenants in the area? You may have to check with a realtor to find out exactly what the statistics are, but you can do your own investigation by looking in the local papers and on the internet. This will also give you an idea of the rental rates so that you can arrange financing that will be in your favor.
Rental properties can make you wealthy as an investor, but you must do your homework first.
And now I invite you to learn more about buying real estate for profit by visiting Connie Ragen Green at http://www.BuyRealEstateForProfit.com
Source: www.articlealley.com
Share this:
