Author Topic: where should i buy my first rental?  (Read 1422 times)

mohawkbrah

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where should i buy my first rental?
« on: March 10, 2016, 06:40:32 AM »
id guess buying my first property in my local area would be easiest in terms of managing. but housing is pretty poor term of investment in my area. id be lucky to get 5% plus property's are very overpriced here and are out of my initial reach for a deposit. Any tips on regard to investing in property where the distance is too great for you to head out too. such as using a lettings agency to manage on your behalf.

Drifterrider

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Re: where should i buy my first rental?
« Reply #1 on: March 10, 2016, 09:04:42 AM »
id guess buying my first property in my local area would be easiest in terms of managing. but housing is pretty poor term of investment in my area. id be lucky to get 5% plus property's are very overpriced here and are out of my initial reach for a deposit. Any tips on regard to investing in property where the distance is too great for you to head out too. such as using a lettings agency to manage on your behalf.

My recommendation would be to buy in an area you know.  My rental is 300 miles away and I use an agent but, I grew up in that town and know the rental market and the neighborhoods.

zoltani

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Re: where should i buy my first rental?
« Reply #2 on: March 10, 2016, 12:48:18 PM »
My rentals are 2,500 miles away. I know the market well and "speculated" a bit on which area would be the next hot area. A property manager takes care of the day-to-day and finding tenants.