Tips For Buying Second Homes or Investment Properties in NashvillePosted by Gary Ashton: RE/MAX ADMIN on Friday, March 1st, 2013 at 11:55am.
Nashville is proving to be very popular as a choice for property investors across the United States who are looking for second homes for their family or just investment homes to rent in the area. There are some things you need to watch out for when starting out on your property investment journey and we wanted to give you some pointers to help you along on your journey.
It's all about location
Anyone who has ever bought or even considering buying a home will have heard the phrase "Location, Location, Location" uttered any number of times. Investing in the best location you can afford will serve you very well in the long run, simply because you'll attract a better quality of tenant and you'll be able to charge more rent too.
Overestimate your expenses
If we see property investors making any one single, expensive and recurring mistake is that they leave absolutely zero room in their investment budget for anything to go "wrong". Any experienced property investor will advise you to have at least a few thousand dollars of slack in your budget for those unexpected and last minute expenses which you can be sure will crop up.
Look past first impressions
The most successful property investors know how to spot a bargain. The key to this is training yourself to look past small flaws in the property and focusing on things like the quality of the neighborhood and amenities in the area. Doing this will allow you to buy suitable "fixer-uppers" and make the most of your investment.
Use expert advice
Of course if you want to shortcut the entire process and avoid the potential for making expensive mistakes when investing in property entirely on your own we're always happy to discuss Nashville property options with our new and existing customers.
You'll find that at the Ashton Real Estate Group we can offer you the kind of local expertise which will help you make the most of your investment budget.
The Ashton Real Estate Group of RE/MAX Elite
The #1 RE/MAX Team in Tennessee and #7 in the USA
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