Investment Property Insider | October 2023 Issue
Are you considering investing in real estate but not sure where to start? I’m here to help! In this edition of Investment Property Insider, I will shed some light on what makes a good investment property, with a special focus on the advantages of already tenanted properties.
1. Tenanted Properties: The Smart Investor’s Choice
One of the most appealing options for real estate investors is purchasing a property with existing tenants. Here’s why:
Instant Income: When you acquire an already tenanted property, you start earning rental income from day one. There is no need to search for tenants, vet applications, or endure the empty months while your property sits vacant.
Proven Track Record: The existing rental history can provide valuable insights into the property’s potential. You can assess whether the rent covers your expenses, and if there’s room for increasing your rental income in the future.
Lower Risk: With a tenant already in place, you’ll face fewer financial risks associated with property vacancies. This stability can be particularly reassuring for new investors.
2. Location Matters
Location, location, location! It’s a real estate cliché, but it holds true. When choosing an investment property, look for areas with strong rental demand and potential for appreciation. Consider proximity to schools, transportation, and job centres. Research the neighbourhood’s historical performance and potential for growth.
3. Positive Cash Flow
A good investment property should generate positive cash flow, which means your rental income exceeds your expenses, including the mortgage, taxes, insurance, and maintenance costs. This ensures that you’re not draining your own finances to maintain the property.
4. Property Condition
Investing in a well-maintained property can save you time and money. Conduct a thorough inspection or hire a professional to identify any issues that might require costly repairs. A property in good condition typically attracts better tenants and can command higher rents.
5. Future Potential
Consider the long-term potential of your investment. Look for properties in areas with anticipated growth, urban development, or infrastructure improvements. These factors can lead to an increase in property value over time.
6. Property Management
No need to worry about the management of your new investment property. I can handle tenant relations, maintenance, and other day-to-day tasks, leaving you with more time and peace of mind.
Purchasing a good investment property is an excellent way to build wealth and secure your financial future. When searching for your ideal property, don’t underestimate the benefits of already tenanted properties. They offer a head start on generating income and can be a wise choice for both new and experienced investors.
No worries if you’re not in Tasmania; I’ve got you covered! Even if you’re unable to physically visit properties, I can attend open houses or arrange private property showings on your behalf. You can count on me to be your eyes on the ground, and I’m more than happy to Facetime you while I personally guide you through the property.
If you’re browsing popular real estate websites like realestate.com or Domain and spot something that piques your interest, simply send me the link. I’ll provide you with valuable insights on the potential rental return and the surrounding area. Your dream property may be just a click away, and I’m here to help you navigate the real estate landscape, regardless of your physical location.
Joanne Strange // 0466 591 307 // firstname.lastname@example.org