Brian Ferdinand – 4 Key Factors to Consider Before Investing in Your First Rental Property

Are you considering investing in your first rental property? If yes, do not rush into the first property you come across. You need to pay attention to specific factors that will influence your buying decision. Note that the rental property you invest in will be a long- term investment, and it needs to give you consistent revenue earnings. So, before you jump into searching for the right rental property to invest in, always take expert guidance and opinion to bag the best deals.

Brian Ferdinand – Helping people with real estate investing

In the Greater New York Area, is an esteemed name when it comes to the real estate investment market. He is a business consultant, real estate investor, and entrepreneur. He is the Managing Partner of CorpHousing Group, a trustworthy national, short-term apartment rental operator in the country. This company manages and assembles proprietary Class A multi-family properties throughout the USA.

Consult experienced professionals for guidance in the field

When it comes to investing in your first rental real estate, he says you should speak to experienced professionals in the field rather than conduct online research on your own. The act of investing in real estate property is not easy. You must have knowledge of the market and current trends. Real estate prices fluctuate, and bagging the best deals need time and research.

He recommends you take into consideration the following factors before you invest in your first rental real estate property-

1. Are you comfortable with the idea of becoming a landlord to tenants- Learn what the duties and responsibilities of a landlord are before you finally take the plunge!
2. Make sure you have no personal debts- Note, if you want to become a savvy investor with a bright future, ensure you clear all your personal debts first before investing in rental property. Take care of all those unpaid medical bills, student loans, and more before you start searching for rental properties to invest in.
3. Location matters- The right location plays a crucial role in generating revenue in the future. Never invest in rental property in a location that is declining. Pick a location where the area’s population is constantly increasing, and development plans are in progress. These places are ideal opportunities for investment.
4. Financing versus buying the rental property- Compare the prospects of financing versus buying keeping your goals for investing as the baseline. If you pay cash, you are able to generate a consistent cash flow every month. However, financing will help you boost greater returns on the property. Talk to experts in the field to get an idea of how much you can generate from each option and take the step that suits your preferences the most.

According to Brian Ferdinand, with the right steps and knowledge; you can invest in the perfect rental property with success. You effectively are able to generate lucrative returns from it and attract a larger pool of renters with success!