Beginners Guide: 4 Tips For Buying Your First Rental Property
As the economy continues to gain momentum, rental prices will continue to bounce back across the country.
According to Apartment List, rents are rising quickly in the 100 largest cities in the U.S. and the surrounding metropolitan areas.
The high demand for rental houses and apartments is driving down vacancies and driving up prices, with median rentals estimated at over $1,250 as of August 2021.
It’s a good time for rental property owners.
If you are thinking of purchasing your first rental property, here are some tips for entering the rental market.
1. Decide if you're cut out to be a landlord
2. Pay down personal debt
3. Secure a down payment
4. Find the right location
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