Tips and Checklist for Buying Money Make Real Estate

No matter what type of property you invest in, keep these key needs of your tenants in mind BEFORE YOU BUY ANY PROPERTY:

SCHOOLS: 
What is the quality of the schools in the area you plan to invest in—good, mediocre, poor? If you plan on renting to young families, look for the BEST school system you can find.

HIGHWAY OR FREEWAY ACCESS: 
Is the single-family home near a major highway or freeway leading to areas in which jobs are plentiful? The shorter the distance the renter has to drive or use public transportation to go to work, the easier it is for you to rent your unit. And the closer the unit is to major roadway access, the higher the rent you can charge.

SHOPPING FACILITIES—MALLS, SUPERMARKETS, CHAIN STORES: 
Again, the closer your single-family home is to good shopping facilities, the easier it is for you to rent. And the higher the rent you can charge per unit!

POLICE PROTECTION: 
A good police force that keeps a lid on crime will help you rent sooner and be able to charge a higher rent. Low-crime areas are highly desirable to all renters—everywhere. SPORTS FACILITIES rate high with young families today. Soccer fields, basketball courts, swimming pools, baseball fields, hockey, and skating rinks all add to the rentability of your units. And each facility helps you raise the monthly rental by a few dollars. RELIGIOUS ORGANIZATIONS that are nearby increase your rental chances and the level of rent you can charge. So the closer your single-family home is to various houses of worship die better your business will be!

RESTAURANTS, CLUBS, AND BEACH FACILITIES:
They will all make your single-family home more rentable when they are nearby. So check them BEFORE you buy!

TRANSPORTATION FACILITIES:
They are very important to some renters who do not own or cannot afford an automobile. Closeness to trains, buses, trolley lines, etc., will increase your rental income. Again, check BEFORE you buy!

PARKING SPACES: Don't buy a single-family home that has less than two parking spaces. Why? Because today's families are usually made up of two working spouses. Without parking facilities for two or more cars, renting the property is extremely difficult. BEDROOMS: Avoid single-family homes with less than two bedrooms. One-bedroom homes are much more difficult to rent than homes with two or more bedrooms.

BATHROOMS: Look for single-family homes with at least one and one-half bathrooms. Single-bathroom homes are hard to rent
to tenants today.

 

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