10 Factors to Consider When Buying an Income Property
Buying real estate can be daunting for a first-time investor. It’s a tough business and the field is peppered with landmines that can obliterate your returns. It’s important to do detailed research before you dive in so you’re aware of all the pros and cons. Consider these 10 key factors when you’re shopping for the right income property before you take the plunge.
Key Takeaways
- Vet the neighborhood thoroughly because its livability and amenities are key.
- A neighborhood with a high vacancy rate isn’t a good sign.
- Determine an area’s selling prices to get a sense of local market value.
- Research the average rent in the neighborhood and work from there to determine if buying a rental property is financially feasible.
- Compare all your costs…
