Wednesday, 16 October 2019 12:29

Tracking Down the Best Cities to Buy Rental Property

Twelve Best Cities to Buy Rental Property

Tracking Down the Best Cities to Buy Rental PropertyBuying rental property can be an extremely lucrative investment. The key to making the most out it is to know where to buy. You’ll need the rundown on the best cities to buy rental property featuring high-growth areas with strong demand for rental housing to turn a profit.

The Twelve Best Cities to Invest in Rental Properties

While you know how important finding the right location is, finding it can be a challenge. Even more challenging is finding a variety of locations that can effectively diversify your portfolio.

Important things to look for when choosing cities to invest in are the growth rates for both jobs and rent prices.

With funding from direct money lenders, you can finance the purchase of rental properties in some of the hottest markets in the country. Here’s a look at some of the best cities to invest in.

 

Oakland, California

Rent priced in Oakland California has been benefitting from increases in demand driven by folks from San Francisco seeking more affordable housing.

Las Vegas, Nevada

Las Vegas has a tale of two markets, one for homeowners and another for rental properties. The plight of the housing market for single-family homes in Las Vegas is well-known. Meanwhile, the demand for rental housing is surging.

The growth has been driven in part by developments in the gaming industry which is bringing in more people looking for rental housing in the area.

Seattle, Washington

Seattle has a strong need for rental housing which is partly because of single-family residents by the untenable price of property. These high prices have been discouraging aspiring homeowners and causing them to rent instead of own.

Atlanta, Georgia

Rentals are up 3.5%, and job rates up 1.8%, that are above average. Prices for rental properties are becoming more manageable.

Orlando, Florida

Orlando is a high demand market for rentals, with single-family residents and lots of tourists. Their employment is up 3.2%, and rent is up 3.5%.

Chicago, Illinois

Solid rent growth, that is up 1.9%, and with people wanting to stay because of the job growth is up 1.6%.

Detroit, Michigan

A boosted economy and recovered manufacturing, led by the auto industry, keeps Detroit thriving with rentals. Their growth in employment is up 2.1%, while their rent is up 2.7%.

Dallas, Texas

Stable jobs and first-time homebuyers are getting talked out of owning their home, keep rental properties thriving in Dallas. Their employment growth is 2.9%, and rent growth is up 3.5%.

Memphis, Tennessee

With a 1.3% employment growth rate, and 1.8% rent growth rate, Memphis is still a good investment. Higher yields and lower entry rates make it one of the best cities to start up a rental property.

Miami, Florida

Between the warm weather, affordable housing, and being a beach city, has made it one of the highest profitable cities to have rental properties. People are always looking to rent out for vacations, or full-time for jobs.

The best neighborhoods to invest in are, Brickell, Biscayne Island, Douglas Park, and Flagami.

San Diego, California

San Diego is the second-highest profited city from rental properties. They also have warm weather, affordable housing, and are a beach city. Being one of the largest cities in the US, they are more likely to have full-time renters, staying for their jobs. Tourists make up the last bit of profit that apartment renters don't.

Technology advances growing in San Diego has caused job growth and an expanding economy. Investors are expecting property values to increase along with the rent being up 3.5%, and job growth 2.5%.

Financing Rental Properties in Hot Markets Across the Country

All of the preceding cities offer tremendous opportunities for real estate investors looking to cash in on rental properties across the country. For the most ambitious of you, a blanket mortgage to consolidate the financing on multiple rental properties under one loan.

There are many strategic advantages to these loans, including low payments that are predictable and easy to manage compared to having many separate loans on each property.

Many of you might not wish to settle for investing in one city alone. Each city has something to offer and blanket mortgages can make it easy for you to take advantage of opportunities in all of these cities.

When working with a direct money lender, be sure to ask about stated income loans as well. With a state income loan, you won’t have to furnish your tax returns to qualify for financing. Many property investors appreciate the flexibility of stated income loans and find them much more favorable than anything offered by a bank.

One thing that doesn’t change in between cities is the general inflexibility of banks and credit unions when compared to more limber financiers like direct money lenders who aren’t held to the same regulations.

Snatch Up Profitable Income Properties in Choice Cities with Rental Home Financing

Income-property investors who work with Rental Home Financing to raise capital to enjoy favorable terms and easy access to funding. You can get great deals on loans and raise the capital you need to get in on these hot markets across the country. With so much opportunity out there, you should already be on the phone, call today and start growing your real-estate empire, with Rental Home Financing.

Reach out to Rental Home Financing for a golden opportunity to acquire rental property that can put money in your pocket!

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