We cannot deny the fact that real estate is a business that is so vital because people will always be looking for shelter no matter what. Of course, there ups and downs with the business and we definitely saw the effects of the global crisis to the housing market. But with today’s home values at record-low after the collapse, the housing market is definitely worth a second try. One of the best ways to invest in real estate right now is through rental properties.
Real estate has produced more millionaires than any other investment vehicle. For one reason, more people have invested in real estate than anything else because they need a place to live. Real estate is a wonderful investment vehicle. Here are some of the reasons it is such a good investment.
Because the incidents of tenants being ousted due to landlord foreclosure has been more and more frequent, Federal legislation was passed that gives tenants more rights. Because of this new legislation, tenant can no longer be forced out of rental property when landlords foreclose.
This law does protect the property owners. This is a major improvement and was created for the landlords so that tenants had to pay for damaging property. Some tenants wonder why the damage deposit is so expensive and the reason is to make sure it covers the costs of the repairs. Tenants need to be held accountable for damaged property.
I did a little research today to see what has sold and the top selling site was for vacation rental properties Denison TX. A few of the other ones were a debate site for social networking, a digital products site and one that sold costumes. That gives you a few ideas of what’s popular right now. There are plenty more though.
There are a lot of things involved in property maintenance and the amount depends on the square footage and the type of property. Whether it is an apartment, single dwelling home or a six unit multi-plex there are always repairs that need to be completed. This could also be another project that you might want to outsource to a team to get it liveable quickly so that you will have a positive cash flow.
One of the best places you will find to list rentals is Craig’s List. Place an ad here and your phone will be ringing off the hook. Thousands of people per day peruse Craig’s List looking for rentals. The contact can be email if you prefer so that you may call them back at your leisure instead of spending the whole day answering the telephone. Because rest assured, if you list a phone number you will be getting calls for days. This is definitely one of the most effective methods you will have when it comes to placing advertisements for rentals.
The neighborhood where your investment property is located is watching everything. Most of the time a neighbor has a hook up with someone, and lets them know about the vacant house full of treasures. Some of these thieves are crack addicts and will break in, and even try to steal the bathtub. One was so stupid, and petty they stole a vinyl downspout off one of my rental properties. This problem occurs all over the city. Even in some of the better neighborhoods.