Are you thinking about buying a rental property? Make sure you ask your agent how many other non-owner occupied properties are in the area first! Why is this so important to know?
If an area has more non-owner occupied than owner occupied properties, it can actually affect the value of your property when it comes time for resale. Go look at neighborhoods that have more rentals than owner occupied homes and you will see a major difference.
When I look for a property to lease option, the first thing I look at is the neighborhood and how many non-owner occupied homes there are. This can affect, not only me, but my end buyers as well. Since I believe in making all my sales a win-win for everyone involved, this is important to me and I do pass this information on
to my buyers.
So if this is an answer that your agent can't give you, and you are looking to purchase investment properties, it may be time to look for a new agent! For more information on investing in real estate, feel free to contact me anytime via e-mail or by phone.
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