{"id":13288,"date":"2010-09-20T20:23:17","date_gmt":"2010-09-21T03:23:17","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=13288"},"modified":"2010-09-20T20:23:17","modified_gmt":"2010-09-21T03:23:17","slug":"real-estate-investment-tips","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13288\/real-estate-investment-tips\/","title":{"rendered":"Real Estate Investment Tips"},"content":{"rendered":"

Finding a \u201cbargain\u201d property to purchase for rental purposes takes some analytical skills, market knowledge, and a real estate agent who is in sync with your investment goals.<\/p>\n

Some investors would consider the ideal rental property to be a three- bedroom, two-bath house in good repair, or needing minor touch-ups at most, and would be willing to pay at or near market value price if neighborhood rental values would justify the investment.<\/p>\n

This investor would be holding the property long-term, and would have a desirable property, available for immediate occupancy, and would attract renters willing to pay top dollar to live there.<\/p>\n

Other investors would prefer to find a property that is structurally sound, but in need of extensive cosmetic rehabilitation. If this property could be purchased at a considerably below market value price, and if the cost of repair and possible rental income would justify the purchase price, then that would be this investor\u2019s\u00a0 idea of a \u201cbargain.\u201d<\/p>\n

A knowledgeable real estate agent should point out to the new investor that disassociating ones self from a prospective property to rent is vitally important, meaning that the investor should not evaluate an investment property as a property he or she might want or not want to live in. Investment properties should be looked at with profit potential in mind.<\/p>\n

Holding a rental property long-term, enables the investor to ride out market swings and generate continued cash-flow. However, consideration must also be given to the fact that the longer a property is held the more extensive the costs of future repairs are going to be, such as roof replacement, appliance replacements, etc.<\/p>\n

Furthermore, if the investor is planning to purchase multiple rental properties over time, consideration should be given to hiring a property manager<\/a> to oversee rent collections, maintenance, emergencies, etc.<\/p>\n

Hiring a property manager is often more cost-effective than handling everything one\u2019s self. Additionally, the property manager can be the investor\u2019s knowledgeable guide in calculating the rent levels that would simultaneously attract renters and optimize revenues.<\/p>\n

The new investor will have many important decisions to make before committing to a particular property:<\/p>\n