- Get your finances in order:
- Determine how much money you have available for a down payment
- Identify which lenders have suitable loans for income property
- Take advantage of the low itnerest rates while they last
- Decide what type of rental property is best for you:
- Single family
- Side by Side or Up/Down duplex
- Multiplex properties (three or more units)
- Mobile home parks
- Apartment buildings
- Choose neighborhoods that are in demand:
- Low crime
- Good schools
- Desirable location
- Work with a Realtor with personal experience and success with rental property
Colleen Foreman
cforereal@aol.com
406-671-0412
1 comment:
There are many advantages to purchasing a property you've rented but when moving to a new area it is what you learn by renting that is most beneficial. Renting a property before buying it gives you the ability to learn these unknowns before committing to buying a rental property. It takes time to get acclimated to your new life and figure out whether or not you like your new neighborhood and job. Purchasing a rental property gives you the opportunity to find these things out before making the huge commitment of buying.
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