I am always hearing all the new places to invest in and the experts' opinions. Having an eye on investment real estate since 1985 I have really studied and learned what a good candidate for a potential investment property really needs to have.
First the price and lease amount are very important. The key component that also needs to be recognized is the area and what it offers to potential tenants. If there are not good amenities in the area it will cost a lot less quality tenants.
Second you need a property that creates equity growth. This is one of the income components a lot of sellers do not want you to consider. It is important to have a property that is growing in equity while you're collecting rent.
Property management is very important to have for the life of leasing the property. Having good property management is one of the other crucial parts of investing. I believe when you sell your property a Realtor that specializes in that is your best bet.
Keeping your investments in one local area and finding professionals that take care of your portfolio is really smart.
When you move from town to town you're dealing with different people. That creates more work for the investors and they usually do not have the same care from place to place. That is why staying in one area that works for you will probably be more profitable.
Need some more information? Call me (Brett) 216-703-5740 Fathom Realty or Sign in below for some free information.
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Thank you