Are you planning on buying investment property for the first time in the Waltham area? If so, you've come to the right place!
Real estate is still one of the best investments that you can make in 2019 because with a rental property you can generate positive cash flow and enjoy many tax benefits while building wealth at the same time.
Sadly, many people don't know what to look for in an investment property that's why in this article we will provide you with tips that you can follow which will help you to find the right-first-time investment property for your portfolio.
#1 - Choose A Property In A Great Location
The first things to do when choosing an investment property in Waltham, or the surrounding area, is to search for an investment property that's in a great location.
Ideally, your investment property should be located in a great school district, close to sources of public transportation, near shops and stores, and most important of all it should be within 30 minutes to one hour of major employers in the area.
#2 - The Property Should Have Good Resale Value
Another important thing to do when searching for an investment property in Waltham or the surrounding area is to choose a property that has good resale value.
As with any investment, you may want to resell the rental property within 5 years and upgrade to a bigger property so it's important for you to purchase a property that has good resale value and most important of all the rental property should not take a long time to sell.
#3 - The Numbers Have To Make Sense
Last of all, but most important as an investor you know that with any investment that you make the number should always make sense because without taking the time to investigate the numbers you could end up upside down with your first rental property investment.
Some of the questions that you should ask yourself before purchasing a rental property include:
* How much am I going to purchase it for?
* What can I rent the property for?
* Will the rent cover my expenses?
* Am I going to be in negative cash flow or positive cash flow with this property?
Contact Martin Property Management
To learn more about what to look for when purchasing a rental property, or to speak with us about our Property Management Services contact us today by calling (617) 957-0166 or click here to connect with us online.
