If you wish to build your portfolio of rental properties, you can easily do so when you contact a property management firm. You can also use the services of the same company to manage your property after you purchase it.
Why You Should Choose Memphis Real Estate
Companies such as Business Name feature houses for sale in various price ranges. These homes can provide an additional rental income for the investor that ranges from $375 to a little over $1,000 per month for each house. Most of the properties are family homes. Therefore, you can realize a good return on your investment if you choose to invest in rental homes that are close to you in the Memphis area.
Before you speak to real estate agents about houses for sale in Memphis, TN, you should further investigate the nearby real estate market. According to reports, the rent-to-price ratio in Memphis is one of the best in the country. For example, if you are renting out a property that is around $90,000, you can collect rent at a rent-to-price ratio of one percent. Therefore, it is easy to calculate what you will receive in rent when you are searching for houses for sale.
For example, if you have a portfolio of rental homes that average around $90,000 in price, you can ask around $900 for each property. Also, people like living in Memphis, especially families, so you can always find tenants that are reliable.
Realize Your Investment Goals
If you are reviewing the houses for sale in Memphis currently, you will find that many of the homes are in good condition. Therefore, the upkeep is lower as well. In return, you can pay less for maintenance while receiving a good-sized rental income. That is why you cannot overlook the opportunity to establish yourself as an investor in the Memphis real estate market.
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