How To Buy Rental Properties In Up-And-Coming Areas Regardless Of Your Location
If you are interested in the concept of investing, you may have considered buying a rental property. Maybe you’ve toured homes in your area, scoping for the best deal, looking for a place that requires little renovation or that you believe will provide a high return on investment.
For many of us, the search for a rental property can seem limited to the general area where we live. Why buy a rental property in another state when you have to manage the property, find tenants, and make various surprise repairs?
The goal, generally, is to buy a rental home that will appreciate over time, that way when you want to sell the property one day you would have made money on it, hence the investment. The possibility of appreciation tends to be tied to factors such as the architecture and location of the property, as well as a multitude of other factors.
So, for this reason, looking outside of your real estate market can open the gateway to a range of possibilities for your investment portfolio.
How To Invest In Any Market
Thanks to online resources, looking for rental properties across the country can all be done from the comfort of your home. And one such resource is, Roofstock.
Roofstock is an online marketplace where you can purchase and sell single-family investment properties from multiple states across the U.S., including California, New Jersey, Michigan, North Carolina, Texas, and many others.
Roofstock has both regular rental properties as well as turnkey rentals on its platform. With turnkey real estate you can become a landlord and start receiving rental income shortly after closing on the property.
Roofstock’s turnkey properties are recently renovated with the goal of having little to no deferred maintenance. These properties also come with a warranty where Roofstock will service or replace issues like plumbing, electric and appliances within the first year of ownership.
For Roofstock’s other, non-turnkey properties, they all come with a 30-day money-back guarantee and Roofstock will even pay 75% of the market rate rent if no tenant has moved in within 45 days. Their property listings provide an estimated appreciation rate over a 5-year period to help assist in the decision making process.
As for the question of maintaining the property, Roofstock can recommend a property manager that you can hire to take care of any issues or questions that arise with the property and its tenants.
If investing in real estate is a financial goal that you wish to achieve or want to continue doing, consider looking at the abundance of online resources available to help you expand your search and make the right investment decision.
Browse Roofstock’s active listing here.
Photo by Blake Wheeler on Unsplash
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