If you’re thinking about investing in rental property in St. Louis or anywhere in the midwest you might be wondering what makes a good rental property. We’ll share with you 3 of the factors to see if rental properties are right for you…
Rental properties can be a great investment. Real estate is after all the greatest wealth producers of all time. From the cash flow to the security of owning a real asset, real estate investors have known for a long time that rental properties are an amazing asset to keep in your portfolio. But one question persists that needs to be answered before you invest, “What makes a good rental property in St. Louis?”
After all, you don’t want to invest in ANY property – you want to invest in the right ones! So, here are 3 of the best factors that make up an ideal rental property in St. Louis and surrounding area.
What Makes A Good Rental Property In St. Louis?
#1. Solid House
Unless you’re handy, or have a lot of experience, you may not want to invest in a house that requires a lot of effort to get it ready to rent. After all, every day that you delay renting is a day that you don’t get the cash flow you desire. A strong, well-built house that is free of problems is a great place to start. You might be asking yourself – who sells these homes and how do I get my hands on one. U BUY STL specializes in finding St. Louis best rental properties. We do all the work to find the homes and know the scope of work before we purchase. We complete the rehabs and sell to our investors. This is a turnkey property. You’ll save time and money in having it ready to rent. (We also have a sister property management company and manage hundreds of St. Louis single family homes.) If you are handy and experienced we also have handyman deals available you can purchase in as-is condition where you can do the work and get it up to standard with your own sweat equity for your future tenants.
The midwest is know for its beautiful rolling plains, charming people and affordable housing. While you might want to spend a little more for a house that is already in good condition, you’ll still want to make sure that it’s affordable. In the St. Louis area, there’s a mix of properties – some are affordable and others are not. (This is what we do here at U BUY STL – we find the affordable ones! Give us a call at 3147017186 or click here and fill out the form to check out our available affordable rental properties in the area.)
#3. Good Rental Market
You also need to make sure that this is a good rental market. The truth is, not all markets are good rental markets. Nope. St. Louis is no exception and the rental markets are often street by street so you need to know the area to make a good decision. In some areas, everyone buys and nobody rents; in other areas, everybody rents but there is a lot of turnover. A good rental area is one where there are plenty of long-term renters. Friendly neighborhoods with good schools where people want to stay.
These three factors exist in rental properties throughout the St. Louis area and we can help you find them. In fact, we’ve got an inventory of properties that meet these and other requirements for what makes a good rental property in St. Louis… and our clients love working with us because we help them bypass the time and effort required to FIND these properties, since we’ve already done a lot of the legwork.