Five Considerations Before Buying a Rental Property (1)

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5 Considerations Before Buying a Rental Property

• Buying a property for the purpose of renting it
  out can be a fantastic source of monthly income
  and a strong return on investment in the future.
  However, before you sign your financial life
  away, there are a few things you need to consider
  first

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Crunch the Numbers
Before you start looking at houses its a good
idea to sit down and calculate the amount you can
afford to spend on a rental property.

• Financing
• Transaction Fees
• Management Fees

3
Choose a Desirable Location
Once you have an idea of how much you are able to
invest into a property, its time to choose the
right area to invest in.

• Attractive Neighborhood
• Transportation and Local Amenities

4
Choose your Target Tenant
As mentioned above, its important to consider
who youre likely to rent to, as different types
of tenants will have different needs

• Students
• Single Families

5
Select the Property based on Return on
Investment
Once youve chosen an area and considered the
type of tenant youd like to attract its time to
find a house that meets your requirements.

• Make the Best Business Decision
• Use an Agent
• Negotiate a Deal
• Using all Cash
• Using Financing

6
Be Prepared for the Worst
The property market can fluctuate greatly at
times so it can be difficult to know when (or if)
youll see a good return on your investment.

• Vacancy
• Late Rent Payments
• Use a Debt Collection Agency

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• ON.
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