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Where can I look for good rental investments?
Hi there, it is so surprising that you asked me this question because i was just reading an article on this.
And yes, I can definitely help you with understanding the arts of rental investments!
see, unlike other real estate ways, what you get in rental investments is the inflow of cash.
Buy a property, rent it out and enjoy the steady inflow of $$$. Until you plan to sell it out for bigger profits or otherwise.
First thing first:
The first thing you need to look for before buying a rental property is the surrounding area, neighborhood.
You want too look for the house type. Do you want to invest in single family? multi family? or commercial? it all depends on you budget.
You have to see where do you want to invest, locally or long distance?
locally means in your own area or town. Long distance means some other city.
keep the facilities that are available in the area in mind. A property located near the school will have more chances of renting out your property quickly.
The most important thing after evaluating the area and everything is the cash flow. You wanna keep positive cash flow. And its not only for just rental property, but implies to all the investments you do. Analyze everything to make sure that you will make money and wont get loss.
Tip: rent the property out with the rent that is more than monthly mortgage and HOA expenses.
“Do your number, calculate everything, be prepared before you step in and invest. there is another blog which i really like is about investing in real estate, you might want to read that to get the idea of Cash Flow and running the numbers
You have to keep an eye on the property, make sure that it has been properly taken care of. and there is anything needs to repaired or renovated. If you don’t have enough time, make sure you hire a good property manager.
These are just the few points that you need to cover, to real the whole blog that I was talking about visit the link mentioned below, and do let me know in the comments if you like it or have anything to talk about.
I wish you good luck with your hunting and investing. You can always reach me in case if you need any help. I’ll be more than happy to assist with anything.
Real Estate Coach and a motivational speaker,