28 Things to Consider BEFORE You Buy a Rental Property
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This FREE Checklist Reveals...
The things you should be researching and the questions you should be asking before you buy that first rental property- so you make a smart investment that makes you money.
Market Trends
Learn about the rental market in your target investment community to see what properties people look for and what they will rent for?
Partners/Private Investors
Think about bringing on a partner or private investor to help you find the funds to get that first deal.
Property management
Do you plan on managing your property or hiring property management? This should be calculated into your analysis on a potential deal.
Rental Permits
Do you need to acquire a rental permit to rent your property? Often the case for city rentals or vacation rentals.
Property Taxes
Taxes come out of your monthly cash flow so making sure you are aware of current taxes & whether they will be going up can help you analyze the property for a more accurate current & future ROI.
Industry/Employment
What are the different industries and/or employers that provide jobs for the people in the area you want to invest?
Condo/HOA Fees
If you’re planning to buy a condo/townhouse be sure to find out about your association fees and rules.
Property Type
Think about the type of properties you want to invest in (multi family, single family, section 8, mobile homes) to help you narrow down your search parameters.
Type of Neighborhood
Do you want your properties to be in A, B, C, etc neighborhoods? Find out the different areas of your investing community and what areas fit your goals.
and more...
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It doesn't matter who you are when you get started. If you don't know what sorts of things you need to be researching and paying attention to, anyone can fail. But with a little help and guidance, you'll be on your way to thinking like an investor and buying that first property so you can start your journey toward financial independence.
Emily Du Plessis
founder of RentalRookie
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Our FREE GUIDE Reveals The Things You Need to Know Before You Buy a Rental Property
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