Regardless of where or when you decide to invest in rental property, there are four phases that you must go through. Each phase is equally as important as the next, and no matter what type of property you’ll be acquiring, these phases tend to remain the same. For those new to rental property investment or for those who are out of state and looking for additional help, Strategy Properties can guide you seamlessly through these four important phases of rental property investment—and in many cases, complete several of the phases before you even join the process. We can assist you in Detroit Rental Property Investment.
1- We Acquire
Location is one of the most important factors in Detroit Rental Property Investment. There are multiple factors to consider when scouring for properties that can affect your return on investment (ROI), occupancy rate, and even tenant quality. You will want to find a property in an area with good schools, low vacancy rates, and low to below average crime rates. Locate neighborhoods with high property values and low taxes. These are all important factors that can make or break your investment long before your first tenant moves in.
Doing the legwork on your own can be daunting, but Strategy Properties is an expert in locating properties in viable neighborhoods. We do the work for you.
Strategy Properties scours the market for properties in areas with high rental demand that show respective appreciation values, and are close to schools and industry. Finding the perfect blend that attract both white and blue collar professionals, allowing for a larger pool of reputable tenants to choose from. We target homes with three or more bedrooms and a garage and/or basement, as these are the types of homes that are most in demand on the rental market. These factors create better rental property performance which translates into a better value for the investor. We can assist you in Detroit Rental Property Investment