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Which Properties Make the Best Rentals?
You will have to sort through a variety of factors to determine which properties make the best rentals.
In a nutshell, you want to look for a property that LOOKS like it has a lot of problems, but in reality, the problems are quick and easy to fix. Properties like this have low competition and can be purchased for a bargain.
Let’s dive into the different factors you need to look at.
3–4 Bedrooms are best because a 1–2 bedroom attracts a temporary crown of either singles or couples… and even couples will eventually start having kids and need to scale to a bigger property.
Age is synonymous with the condition, because the older it is, the higher the chance the worse condition it is going to be, and the less recent the capital expenditures will be
Older homes are less energy efficient, which means that the utility bill will be higher, which will drive away long-term tenants
The garage is a good feature to look for if you are buying a single-family because a garage goes a long way for long-term tenants
Search for homes where the utility costs are for the tenants because this will dramatically increase your monthly cash flow.
A smaller yard is better because tenants will not take care of their lawns as…
