- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Replies (7)
- sunnyview
- Contributions:25139
I like the middle of the market advice, but it can be just as smart to buy at the entry level of a more expensive market too especially if you can cover your PITI with rent.
Often people want to live in those neighborhoods, but cannot afford the middle of that market. They are willing to deal with a little less space in exchange for better neighborhood or schools.
Often people want to live in those neighborhoods, but cannot afford the middle of that market. They are willing to deal with a little less space in exchange for better neighborhood or schools.
- Shawn Ryan Rosa, "sryan1980"
- Contributions:493
If you are buying a home for investment purposes, multi-family homes can be a great choice. A 2-family or 3-family home can bring you rental income in the short-term and a capital gain in the long-term, especially when you buy one at today's depressed prices. However, be sure you are ready to take on the responsibilities of becoming a landlord, no matter what type of investment property you buy.
- Deborah Garvin, "loanmonarch"
- Contributions:438
Sharon, Great list! Obvious to me that you are very experienced working with investment properties. Your expertise would be extremely valuable for the first time, or novice, investor. Thanks for sharing!
- Bob Brandt, "BobBrandtRealtor"
- Contributions:1019
I would add that a single level ranch(attached or detached) will become more desireable as time goes on, due to the aging population. It may out appreciate the 2 story or split. A good school district is usually important to renters with kids and for eventual resale also.
If buying as an investment make sure zillow hasn't stuffed it with a garbage zestimate. You may think you got a good deal by using the zestimate as a negotiation tool, then with the lower sales price zillow will calculate an even lower zestimate. See how it works - or should that be doesn't work?
- sunnyview
- Contributions:25139
Zestimates don't make the market, sales do. Buyers or sellers that don't understand that may be disappointed no matter what the Zestimate says.
- Pascal2in1
- Contributions:8
I would like to get an investor to buy a house in my area, Michigan. very nice foreclosure houses with way higher appraisal values and sell it to us under land contract terms. We can put up to 10% down and the normal interest rate in Michigan is 5% but we are willing to pay to you 8%.Typically looking for a good nice house and have very high income, so monthly payments will be a breeze! Me and my husband have very high incomes monthly!
We have there children and would like to stop renting and find a place to call home :)
We have references and financial proof , that is: paystubs or tax forms.
Regards
Sarah
We have there children and would like to stop renting and find a place to call home :)
We have references and financial proof , that is: paystubs or tax forms.
Regards
Sarah
What type of home should you buy as an investment?
-
- 5.0/5.0
- (23 reviews)
Contributions:3923I get this question several times a month, 'what should I buy as an investment' ?
Here's a quick list of what you might consider when buying a single family home to rent out for a long term investment. This is by no means a complete list.
New....try to get a new home, renters like new and there is probably less maintenance for you. Speaking of maintenance, try buying a house with an easily maintained exterior, like brick or vinyl. With a house purchase that is going to be a rental, a 2 car garage is ideal. Location is important, purchase near a college or near a job area, like Research Triangle Park here in the Raleigh area, near the ocean if you are hoping for seasonal rental..make sure the Home Owners Association allows you to rent and for how long. Single family homes in most cases are more desirable than townhouses or condos, unless you are in a beach location. Finally, buy in the middle of the market, where resale is easier.
Hope this helps start you on your road to purchasing a rental for investment.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.