Checklist for real estate investment property
Homeowners look for a set of criteria when buying - school district, curb appeal, low crime rate, proximity to job, number of bedrooms, right layout, perfect-sized yard. While location is still a primary factor when you invest in real estate, most investors also add these to their checklist:
1. New single-family construction
2. A neighborhood that is mostly a primary-home community (rather than renters)
3. Square footage between 1400 and 1600
4. 3 bedrooms, 2.5 baths with 2-car garage
5. Nice yard but no pool (too much of a liability)
6. Safe neighborhood with little or no graffiti on public structures, fences, etc.
Another factor to consider is close proximity to your own home. Especially when starting out, you may need to visit your rental properties frequently-to pick up a check, make minor repairs, etc. For these reasons, any property more than 45 minutes away becomes less desirable.
It is important to remember you are not purchasing for your own use but to attract a high quality renter. Savvy investors choose properties based on the criteria above rather than their personal preferences. Doing so lets them pick from a wider base of homes and find the better bargain.
If you have more questions on which properties would make the smartest buys for you as a real estate investor, please don't hesitate to call or send an email.
Warm regards,
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment