10 best cities to buy rental property
Would-be homebuyers are sitting on the sidelines now, and many are spending their time in rentals despite the housing bargains out there. It could be a great time to buy a house to rent.
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I was at my bank and I asked the teller if I were to put $50000 into a 1 year CD, how much interest would I earn? 0.06 percent was her answer. No thanks I'd rather park my money in real estate. I have a 49K townhome for sale now in Phoenix, average rent is $600-$700 in the area. HOA dues $175 a month, real estate tax $350 for the year. You do the math. Hands down if you care to be a landlord even hire a property manager if you don't want to deal with being a landlord, your return is a thousand times better than 0.06 percent at the bank!
After doing my research as a former real-estate agent and a Lender it is not a good investment to buy a home in Las Vegas prices are up and there are over 5000 vacant homes for rent. Figure out what is going to happen to the edge funds when home buyers won’t qualify for loans because there is no comparable home at the asking price, and the Edge Funds cannot sell them or rent them.
In addition to this list of popular cities to invest in rental property, I would also like to share All Property Management’s Rental Property Investor report. Based on leading national data and statistics, the report ranks 75 of the top cities for rental properties based on key economic factors—job growth, vacancy rate, price appreciation, capitalization rate (return on investment rate), rental prices, and inventory supply of homes. I found it interesting to see where my city ranks compared to others across the US. You can find the report at: http://www.allpropertymanagement.com/rpi-score/2014-q1/
<a href="http://www.rlpnl.com/">NL rent property</a>
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