Seven Things to Consider When Buying An Investment Rental Property
In an article for Forbes by Abhi Golhar, “Seven Things to Consider When Buying an Investment Rental Property” Golhar discusses what things are most important for an individual looking to invest in rental property. The second point in the article discusses the 1% rule, which is explained to be the concept of taking the monthly rent and dividing it by price of the house. This helps to increase the return on investment. At Turnkey Property Group, we price our properties by this philosophy, instead of relying solely on market value. This is to provide our clients with a solid entry level price.
Another category Golhar touches on is the importance of the neighborhood. The location of the property is a key component to evaluating it as a whole because of things like curb appeal or the school district it falls in. A location that has properties with beautifully kept lawns and is aesthetically pleasing will be more enticing to tenants.
Last but not least, property management is another category Golhar brings to attention. It is our opinion, and many others, that this is the most important category. Being a landlord isn’t as pleasant when the tenant has a late-night maintenance emergency, which is one of the many reasons Turnkey Property Group can be ideal for you. The article also discusses: the condition of the house, property taxes, and insurance costs. Take a look at the article to learn more: https://www.forbes.com/sites/forbesrealestatecouncil/2017/09/11/seven-things-to-consider-when-buying-an-investment-rental-property/#7a1461c16dad