work force is strong, which means there are plenty of potential
qualified tenants at all times of the year. Often people move here just
for a short period of time, with no interest in buying. These factors,
coupled with higher than average rental rates means landlords, when
using smart strategy, will win in the rental property investing game.
Current challenges? [more]
Current challenges? If you already own rental property, you're ahead! The trick is to manage it as effectively as possible. OWNING RENTAL PROPERTY IS A BUSINESS!! Make sure you TREAT EVERY INVESTMENT PROPERTY AS A BUSINESS! Always find the best ways to minimize your risks. Risks like bad tenants and delayed maintenance which COST MONEY!
If you're an investor LOOKING TO
BUY rental property, the trick is to be patient and strategic. Finding
cash positive rental properties is a challenge, and not always
possible at the time you are looking. Sometimes a net-neutral property will still be a great
investment. Due diligence is a must, and patience is essential. No business is easy, and no rental property business comes without risk. Approach owning your rental property business with strategy and patience, and you can profit successfully.
Looking to buy rental property now? Finding good solid investments can be time-consuming. Often the best rental properties are pocket listings (not found on the open market/MLS). Investors should hire an experienced real estate professional to work with for the long game, in order to find out the best properties and help you manage your portfolio (whether one property or many).
GOOD property management will also help keep your costs way down AND help to minimize the costliest risk factors in most tenancies.