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A NOTE FOR YOU INVESTORS…
The coverage by the news media can lead you to believe that the sky is falling when it comes to the residential real estate market. This could be true if you are an anxious homeowner and believing you are going to make the same amount of money your neighbors did last summer when they sold their home.
For investors it is a good opportunity to take advantage of the changing in the market place.
Some Advantages are:
- Prices are coming down
- Sellers are willing to make concessions
- Inventory available for you
- More and more properties out there have already been recently renovated (making this a good turn – over situation)
- Rental rates are increasing
- In every real estate market some sellers have personal situations that make it imperative that they sell quickly. Due to the interest rates beginning to climb and the Army coming in and others deploying sellers are dropping their prices.
The keys to buying successful investment property is:
- Commitment to keeping the property well maintained.
- If you put the property into a property management agency please make sure they are keeping on top of your property.
- Take advantage of building equity in the property.
What are some of the things you should consider when looking for a residential rental property?
- Look for a desirable area with an established infrastructure.
- Look for a subdivision that has established revitalization programs.
- Homes in close proximity to Fort Hood base.
- Homes in close proximity to good schools (compare school rankings online)
- Areas that have slightly higher rental rates.
SHAWLYN FRAUGHTON, REALTOR (254) 458-8459
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