Look for regions with low property taxes, growing job markets, and high-quality school districts.
Renters are attracted to areas near public transportation, parks, and grocery stores [8].
Include often-overlooked costs like landlord insurance, property management fees (typically 8-12% of rent), and a "vacancy fund" (5-10% of rent) [5, 10].
Use services like Zillow Rental Manager to run credit and background checks. A bad tenant is more expensive than a vacant unit [20].
Lenders typically require a 20-25% down payment for investment properties, as they carry higher risk than primary residences.
Expect 50% of your rental income to go toward operating expenses (excluding the mortgage) [17].
Never skip this, even if the property looks perfect. Hidden issues like mold, outdated wiring, or foundation cracks are deal-breakers [7].
Look for regions with low property taxes, growing job markets, and high-quality school districts.
Renters are attracted to areas near public transportation, parks, and grocery stores [8]. buying first rental property
Include often-overlooked costs like landlord insurance, property management fees (typically 8-12% of rent), and a "vacancy fund" (5-10% of rent) [5, 10]. Look for regions with low property taxes, growing
Use services like Zillow Rental Manager to run credit and background checks. A bad tenant is more expensive than a vacant unit [20]. Use services like Zillow Rental Manager to run
Lenders typically require a 20-25% down payment for investment properties, as they carry higher risk than primary residences.
Expect 50% of your rental income to go toward operating expenses (excluding the mortgage) [17].
Never skip this, even if the property looks perfect. Hidden issues like mold, outdated wiring, or foundation cracks are deal-breakers [7].