- Neighborhood: The quality of the neighborhood in which you buy will influence the types of tenants you get & vacancy rates.
- Property Taxes: Property taxes are not uniform across an area and, as an investor planning to make money from rent, you want to be aware of how much you will be losing to them.
- Schools: If you're dealing with family-sized accommodations, you need a consider the quality of local schools.
- Crime: No one wants to live next door to the real-life Breaking Bad.
- Job Market: Locations with growing employment opportunities tend to attract more people – meaning more tenants.
- Amenities: Check the potential neighborhood for perks that attract renters.
- Future Development: Will you be competing with future apartments? Or will the neighborhood lose or gain amenities with future developments?
- Number of Listings and Vacancies: Too many vacancies in one area? That’s like neighborhood wentthe bad.
- Rents: Rental income will be the bread-and-butter of your rental property, so you need to know what the average rent in the area is.
- Natural Disasters: Insurance is a necessary evil, so how much do you need? Is your property in the flood zone, snow zone, or Apocalypse cone? (jk on that last one, don’t ask.)
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