How To Pick a Property
It’s a great time to invest in a rental property in Destin, Fort Walton Beach or anywhere along the Gulf Coast of Florida. And, while shopping for an investment home can be a lot like shopping for any other home, you’ll need to pay close attention to many details or it can cost you money.
When you shop for an income property it is not quite like shopping for a home. When you shop for a place for your family to live you are considering space, functionality and features. While you will want to consider these for a rental property as well to ensure to has marketability, the big ticket items, such as appliances, the roof and general structural soundness need to be the biggest consideration. Landing yourself an invesment money pit, one that requires many upgrades just to livable, is definitely counterproductive to your mission. And, in addition to maintaining your rental, you will still have living expenses of your own to factor in.
So, what should you check upon first walk-through. Well, the heating and cooling for one. A broken A/C system in August in Northwest Florida will be expensive for you and maddening for a tenant. Next, check the foundation and roof. Walk the perimeter and interior of the home to spot mold from potential water damage. Making a smart choice now will save you many headaches later!
Tags: Owner Tips