I think it depends on location and condition of the property. Beprepared and Proactively control the condition of your asset.
*Make sure you/ manger do tentant screening, so you keep steady cash flow.
* I always walk through property to make sure it is in great condition, and do the fix as soon as possible.
I would schedule 1-2 time walk through to units anuualy to make sure the tentants are taking good care of the units. So you make them accountable to keep the unit clean and neat. Sometimes you can find leaks in the unit. They are lazy but you are not. For the good/neat tenant I can only visit inside every 2 years.
* do reaserch on rent to have an idea the malarkey rent - on Zillow or realtor.com.
* and look for more good deals on sale when market is going down. Be happy and positive.
You manage well your asset will last through bad eco
Flipper/Rehabber · Ingram, TX · Member since 2018 · 37 posts · 7 votes
8y
The economy is doing awesome right now. But if the dollar tanks I’d think with fixed interest you’d be ok as long as the tenant is still bringing in the same amount. I’m sure there’s other factors I’m not seeing but RE is still the safest bet right up until the zombies start eating people. Who said buy when there’s blood in the streets? I like @Omar Khan ‘s attitude.
Flipper/Rehabber · Ingram, TX · Member since 2018 · 37 posts · 7 votes
8y
Also I guess it depends on the class of property too. If you have a studio that you can rent for $600 you’re probably better off than an 8 bedroom 4 bath. If everyone is downsizing you’d want to have affordable housing.
Rental Property Investor · Broken Arrow, OK · Member since 2016 · 1k+ posts · 1k+ votes
8y
Don't be overleveraged. Those with no equity or capital reserves will struggle. Those with less leverage, and both equity and reserves available, will be better positioned to ride any storm out.