With rental occupancy exceeding 90% in markets across the country, real estate investors are looking for more homes to purchase and convert to rental property. Before you buy, consider these tips.
If you’re a real estate investor looking to purchase homes for rental property, here are a few tips to consider.
According to the U.S. Census Bureau, the number of vacant housing units in the U.S. increased 43.8% from 2000 to 2010. About 15 million vacant housing units were reported to the bureau in 2010.
The housing market has become a focal point for many people who are
opting to not only buy a home, but start investing in real estate. It
may be certainly be a worthwhile plan, so long as you do your homework.
It’s obviously vital to understand housing market fluctuations, local
rental prices, vacancy levels, and insurance requirements such as
landlords and vacant property insurance.
By this time, you’ve purchased residential REO properties, maybe in bulk
or maybe one at a time. You’ve rehabbed them and put them back on the
market as rentals. If you’re new to being a landlord, there are quite a
few mistakes you can make that you definitely want to avoid. Here we’ve
compiled a short list of them: