Things To Consider When Investing In Greenville NC Real Estate To Rent

By
Real Estate Agent with RE/MAX Preferred Realty

If you are thinking of buying Greenville NC real estate and making it a rental property, there are a number of things to consider when choosing the property: 

1. Locationgreenville nc real estate

If you will be renting to a year ‘round tenant, look for a property convenient to major employers, schools, shopping facilities, transportation.

2. Price

If you hope the rental income will be more than the cost of the monthly mortgage, insurance and taxes on the home, you should be careful to invest no more per month than the local rental market can bear. If your goal for rental income is to "break even" or even to have a negative cash flow, price becomes somewhat less important. 

3. Resale

Consider the long-term resale value of the property. If you buy in a fast growing area, the resale value will be greater further down the road. If you buy is a slow growth area, your resale value will be less, but there may be a better rental market.  

4. Neighboring homes

Are the neighboring homes well-maintained? If not, they will drive down your property values. 

5. Solid construction

Look for solid construction. Tenants tend to put more wear and tear on a home than owners. Find a low-maintenance property suitable for renters. For example, white carpeting will have a much shorter life than something more neutral. 

6. Do it yourself

If you live nearby, it can be relatively simple to stay in touch with tenants, and to keep an eye on your investment. If you lack the time, or your property is some distance away, you may wish to work with a property management firm.

Learn more about Greenville NC real estate by visiting LizFreeman.com and LizFreemanHomes.com.

Search all Greenville NC real estate and homes for sale.

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