Is buying a rental property in an area with other homes for sale a good idea?
The leasing property I am looking at is in a nice area, but there are at least three other properties in the same area for sale. Is this a excellent thought or look in an area with less income?
As long as you have a excellent clear cash flow it will be ok. The excellent thing about a nice area is you can charge more rent and you will get better certified tenants.
Remember to take into account all of your expenses to determine what to charge for rent and remember always pull their credit.
Don’t worry about other houses in the market because the other houses are for sale and a renter more than likely continue to rent because they either cannot buy a house at the moment or they reckon they can’t hold or they don’t have the down payment to hold a house.
AS long as you have a excellent clear cash flow and a excellent area, go for it.
Excellent Luck
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