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There is an important question that you must know the answer to before purchasing an investment property in a new town:
How are you going to inform potential tenants that you have a place available for rent?Purchase Diflucan, This is one thing that I was extremely lucky with when purchasing my first real estate investments. There is a popular weekly circulation which _everybody_ in the town religiously reads, Comprar en línea Diflucan, comprar Diflucan baratos, and in fact is the only place I need to advertise when renting an empty apartment..
The circulation is distributed every Thursday night to quickmarts, grocery stores, what is Diflucan, donut shops, Order Diflucan from United States pharmacy, and others within a 20-30 mile range. It contains items for sale, service advertising, discount Diflucan, and most importantly rental advertisements. Kjøpe Diflucan på nett, köpa Diflucan online, It has become the definitive source of pricing rentals, and is where everybody looks.
Before purchasing an investment property in a new town, I would highly recommend looking into how potential tenants find available apartments, Purchase Diflucan. There are towns where there is not a good source, Diflucan description, and it will be more difficult for you to determine the fair market value, Where can i buy Diflucan online, or even rent your apartments. I'm not saying that you shouldn't buy in these places, but if you do you should deduct a higher vacancy/maintenance percentage when calculating your monthly cashflow, purchase Diflucan for sale.
Another advantage is that I can easily follow the rental market. Diflucan dose, I try (try being the operative word) to input the rental prices into a database every week. Purchase Diflucan, I input the # of bedrooms and rental price. I can then track the price fluctuations of the units over time (broken up by number of bedrooms). I know that this isn't completely accurate, no prescription Diflucan online, but it allows me to get an idea of how the fair market value fluctuates over time. Diflucan steet value, This is particularly helpful when pricing a empty unit right before I advertise. Also, I can easily find renters (although I apparently don't always screen them enough), online buying Diflucan. Once I put an advertisement in the circulation (about $10 for two weeks) I instantly get 10+ calls from potential tenants, Purchase Diflucan.
These circulations are most important when purchasing investment properties in smaller towns. Diflucan overnight, If you're renting out an apartment in a city, there are other good ways to go (craigslist for example). In smaller towns not everybody uses the internet, rx free Diflucan. You could go with a realtor, Diflucan coupon, but that ends up costing a lot. Really, your best bet is to understand what the locals use.
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March 1st, 2007 at 9:11 pm
Hello Shmandlord,
I believe that knowing and understanding your customers (or in our case tenants) is imperative for success. Being a landlord in the University City District of Philadelphia, knowing the tenant base is not terribly difficult for me. Having lived in the area in the past, I know and fully understand the needs here. Also, I periodically ask my tenants if they are happy or if anything needs to be addressed. So far, my tenants have given me positive feedback and tell me they appreciate my talking to them.
Great post and great blog! I look forward to reading more of your posts.
University City Landlord
June 14th, 2008 at 11:42 pm
Great Blog! I’m a small-time investor with a few rental properties. Here are a few factors which I consider before purchasing a rental property:
1. Property Value Trends
2. Crime Rates
3. Rental Demand
4. Fair Market Rent values
The easiest way for me to assess these factors is to invest in familiar neighborhoods. But if you’re going to an unfamiliar town it is important, in addition to what you’ve stated in your post, to find a way to assess these factors also. Looking forward to following your blog!