To find the most profitable short-term and long-term rental properties in the US real estate market, check out Mashvisor: http://bit.ly/39CtUFG.
Rental property investing is one of the best ways to get into real estate investing for beginners.
However, first-time investors sometimes struggle to get started.
That’s why we’ve put together the best 7 tips for buying your first investment property:
Tip #1: Look for a single family home
Investing in a single family home brings many benefits compared to other property types. Single family homes are cheap to buy and easy to maintain. They attract good tenants like couples and small families. Last but not least, single family homes experience above-average appreciation, which means that you get to make good money from real estate in the long run.
Tip #2: Explore different financing options
Many refrain from rental property investing as they don’t have enough savings to buy a property. However, there are many different ways to finance an investment property. Conventional mortgages are the most popular financing method, but real estate investors might also qualify for an FHA loan or can find good hard money loan or private money loan opportunities.
Tip #3: Choose a top housing market for real estate investing
Location is the most important factor for the success of an investment property. So, you should analyze a number of different real estate markets within your budget to find the best one. Look for a place with good economic factors and strong demographic growth. Also, choose a US housing market with a high percentage of renters vs. homeowners as this means strong demand for traditional rental properties.
To read about the best markers for rental property investing in 2021, click here: http://bit.ly/2NZZ1Td.
Tip #4: Check out local landlord-tenant laws
While traditional rental properties face few regulations and restrictions, before buying an investment property, you should have a look at the local rental laws to ensure that they are landlord-friendly. Furthermore, you must comply with all legal requirements when rental property investing to avoid problems with authorities.
Tip #5: Consider buying an Airbnb investment property
Recently vacation rental homes have emerged as the more profitable rental property strategy. As a savvy real estate investor, you should consider this option. Nationwide real estate market analysis conducted by Mashvisor shows that in the vast majority of places short term rental properties provide a higher return than long term investment properties. This means that with Airbnb you can make a lot of money. Remember, though, that this strategy comes with more active engagement and more legal restrictions. So, study this strategy well before deciding.
Tip #6: Think about hiring a professional property manager
Making money from real estate is great, but the work associated with being a landlord or an Airbnb host might become overwhelming. Avoid having to deal with tenants or guests and having to maintain your property by hiring a property management company. You will turn your rental income into passive income.
Tip #7: Use real estate investment tools
Unless you are a full-time real estate investor, you are probably too busy with different things and don’t have enough time to do proper real estate analysis. Meanwhile, analyzing the housing market and available properties for sale is crucial for a profitable decision. To do that in the most time- and cost-efficient manner, get access to real estate investment tools. Mashvisor helps you analyze the investment potential of neighborhoods and properties in any US real estate market quickly and efficiently.
To find out how Mashvisor helps you make profitable real estate investing decisions, click here: http://bit.ly/3pERMOA.
To start searching for top-performing Airbnb and traditional rental properties now, check out Mashvisor: http://bit.ly/39CtUFG.