In this episode, I give you my top three things to consider when evaluating a rental property to purchase. I realize that everyone’s criteria can be a little different, that’s why I am giving you three top level variables that you should consider no matter what.
What makes a good investment property? You should evaluate a rental property very closely since it is an investment that you plan on having for a number of years. If you purchase a rental property that does not perform well, it can plague you for many years.
Below are my top 3 things to consider when evaluating an investment property:
- location (no war zones)
- numbers must make sense
- should consider possible sale down the road
There are a lot of factors that can go into whether or not an investment property is right for you. Your criteria and my criteria may not look exactly the same, but the above three things should be considered by anyone buying an investment property.
Tomorrow I am going to break down the numbers for you, and tell you exactly how I plan to evaluate rental properties for my own business this year.