What Kind of Property Makes the Best Rental?

by Brandon

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What Kind of Property Makes the Best Rental?

In 2006, NASA admitted they had accidentally taped over the original recording of the first lunar landing.

In 1962, Decca Records had a choice to sign one of two bands. They chose Brian Poole and the Tremeloes. The band they rejected? The Beatles.

In 1788 the Austrian army accidentally attacked itself and lost 10,000 men.

Clearly, mistakes happen. The same will be true for your real estate business, though hopefully to a lesser extent than the examples mentioned above.

However, one mistake that can be deadly to your real estate business is this: choosing the wrong property.

Making the mistake of picking the wrong property is a lot like picking the wrong spouse. It can be incredibly stressful, expensive to get rid of and detrimental to your well being!

But how do you know what the right property is? After all, there are a lot of properties out there.

  • What should you buy?
  • What should you avoid?
  • Are four bedrooms better or worse than two bedrooms?
  • What about garages?
  • What about neighbors?
  • Color? Age? Size?

These are important questions you should be asking if you want to buy the right deal and have the most success as a landlord, so let’s dig in on several things that I look for when shopping for a rental property.

Keep in mind, all of this depends heavily on the trends in your location. Furthermore, the following list is not a bunch of rules you must follow, but rather pieces of wisdom that I’ve picked up on and have served me well. So let’s get to it.

(Click to read on BiggerPockets…)

About Brandon

has written 199 Awesome posts in this blog.

Brandon Turner (G+) is the BiggerPockets.com Senior Editor and Community Director and owner of RealEstateInYourTwenties.com. He is also an Active Real Estate Investor (Flips, Apartments, and Buy-and-Hold), Entrepreneur, World Traveler, Third-Person Speaker, and Husband. Come hang out with him on Twitter!

P.S. looking for hard money loans in California? Be sure to check out my friends over at northcoastfinancialinc.com. They have very competitive rates, can fund within a week and specialize in fix and flip loans and other hard money loans.

P.S. Looking for more real estate investing knowledge? If you are interested in a top-notch course to help you understand the nuts and bolts of creative real estate investing, I would like to recommend Ben Leybovich's Cash Flow Freedom University. Ben is a close friend and has been my trusted adviser for years. He's a smart guy and CFFU is pretty awesome. The course is waitlisted, but while you wait for an opening Ben will send you tons of FREE content. Seriously. Click here to check it out.

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