Owning real estate that you can rent out is a great way to get income without putting in much work. However, you want to make sure that you are getting the full value for your property. Make sure that you purchase and create a solid rental property that won’t be too much of a hassle to take care of or rent out.

Qualities to Look for in a Solid Rental Property: Minimal Maintenance Issues

To get the most money for your rental with the least amount of effort, your property needs to be as maintenance-free as possible. Before buying a property to rent, then, try to avoid properties in need of major repairs or renovations. Once you have purchased a property to rent out, install heavy-duty or otherwise easy-to-maintain materials such as stainless steel appliances and laminate or vinyl flooring. Materials such as these are easy to clean and don’t need to be switched out very often.

Reliable Rental Income

Long-term tenants will give you more reliable rental income. This is because there will consistently be rent-paying tenants in your property instead of the property sitting empty while you try to find new renters every few months. When going through rental applications, look for applicants who are looking for a place to stay long-term. Additionally, make sure that you choose renters who can pay consistently each month. You may want to ask for some form of proof of funds before signing a rental agreement.

Qualities to Look for in a Solid Rental Property: Desirable Location

In real estate, location is probably just as important as the property itself. Picking a good location will help your property appreciate over time. A rental in a desirable location will be much more popular and rentable than if it was located somewhere else. Consider safety, proximity to resources and main roads, school districts, community amenities, and other factors when choosing a property to buy. Visit the property that you are planning on buying and make regular visits once you have purchased and are renting a property to survey the location.

Before purchasing a property to rent out, make sure that it is a property that people will want to rent. You can change some things about a property like the inside furnishings or wall colors, but you can’t change things like location or deep-rooted maintenance issues. Finding a great property and then making additional touches after you purchase it will help you have a solid rental property. With a great rental property, you can have many years of reliable and easy income.

Check out this article on how to avoid constant repair headaches in real estate!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
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