How to find a good Investment Property?
It may be difficult to find a good investment in a property. Some may not even know how to begin the process of making an investment into a Property. In a lot of cases people find that they make mistakes in the process to finding the right investment for them.
This blog guides you through the important steps to making the right investment for you! If you follow the following procedure your path to finishing a perfect investment will be simplified and will ensure that you are happy with the end result.
1. Work with a real estate agent
Realtors can be a valuable source of off-market investment properties through pocket listings. A pocket listing is a property that a real estate agent has a signed contract on, giving them an exclusive right to sell. Finding a quality Realtor to work with can help you get a lot of investment opportunity leads.
The neighborhood in which you buy will determine the types of tenants you attract and your vacancy rate. For an example, if you buy near a university, there is a big chance that most of your Tenants will be Students.
3. Job Market
Locations with growing employment opportunities attract more tenants. However, this may cause housing prices to go up or down, depending on the type of business involved. On the Contrary, this would be a very good attraction to towards potential Tenants, as Job opportunities would attract them to that area.
Tour the neighborhood and check out the parks, restaurants, gyms, movie theaters, public transportation links, and all the other perks that attract renters. This would especially attract renters with families as they will most likely look for a property which is surrounded by fun activities.
5. Property Taxes
Property Taxes are likely to vary widely across your target area, and you want to be aware of how much you’ll be losing. High property taxes are not always a bad thing in a great neighborhood that attracts long-term tenants, however if it is an option unappealing neighbourhood it may not attract long-term tenants. Be sure to find out if property tax increases are likely in the near future.
At kilnstone Property, your goals are our goals. We will work with you and ensure that you find the perfect investment for you. We can give you 1-1 advice and guide you through the process to make sure it is stress-free!
Email: [email protected]
Phone: 01293 278312