Olde Hornet
Well-Known Member
Is buying an investment property right for you? Here are six tips from the pros
They key to successful real estate investing is doing thorough research before buying property.
www.usatoday.com
Leslyn Hall recalls that before she and her husband bought their first investment property in Burlington, Vermont, they did their homework about the city’s rental market.
“We looked at vacancy rates, we looked at average rents, what people paid for one- to two-bedroom apartments,” says Hall, 52, who runs a consulting company.
That research helped them find a duplex within walking distance of the University of Vermont and the city’s downtown, a desirable location for many renters. And they lived in one of the duplex’s units, while the rent from the second unit offset their expenses.
Hall’s approach of diving into research was right on the money, experts say. And just like Hall and her husband, many consumers are first drawn to investment properties for their cash flow, says George Ratiu, senior economist at Realtor.com.