14 Strategies for Buying (And Renting) Your First Investment Property

 Photo via Pexels

Guest Post Written By Ted James

Maybe you’d like to purchase a property to rent out in an area with a large year-round population, or perhaps you’re interested in buying a vacation rental in a popular tourist destination. If you want your property to stand out, you can’t go wrong with a wood furnace! Here’s how to fund your investment, market your property with business cards and other tactics, and get it ready for renters.

Making Your Investment

Investing in real estate is a big commitment, so you’ll need to ensure that you’re not putting yourself in a financially precarious position.

• Reference this guide if you’re struggling to save for a down payment.
• Consider partnering with a friend to invest in a vacation rental property together.
• An investor-friendly real estate can help you identify the perfect property for long-term tenants or vacation rentals.
• Once you’ve had an offer accepted, determine your monthly rental price.
• Follow these tips to set a fair price for vacation renters.
• A limited liability company can help protect you and your property. Contact a formation company if you have questions about how to start an Airbnb LLC.

Renovate and Decorate Your Property

Whether you’re trying to attract long-term tenants or short-term renters on vacation, you’ll have to spruce up your new house.

• An easy-to-use home repair services app can help you find professionals to take on any repair or maintenance job you have.
• Consider adding some of these high-priority features for tenants.
• In the kitchen, add beautiful handles and hardware from The Boutique Handle Co to your cabinets and drawers.
• You can turn to an interior design blog to help you envision furnishings for your rental.
• To save money on renovations, try these DIY tricks!

Advertising to Tenants or Tourists

Here’s how to get the word out about your property to tourists or residents looking for a place to live!

• You can promote your rental with the power of social media.
• Make customized free business card designs featuring your property.
• Consider creating a booking website for your vacation rental so that renters can easily reserve stays.

Investing in real estate can be a great way to boost your personal cash flow and expand your financial portfolio. But there is a certain level of risk involved, so you want to move forward with a defined strategy for your property. With these tips, you’ll be ready to buy a property you can afford, design business cards for your property, and appeal to travelers or long-term tenants.