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What to Look for When Buying a Rental Property

Finance Your Idaho Investment with an Easy Equity Loan

People are heading to the Northwest from across the country.

Idaho is a particularly appealing destination, thanks to an unemployment rate markedly below the national average (2.9%), a lower cost of living, and more affordable homes than the neighboring NW destination states of Washington and Oregon.

Investors are wise to get in now on the region’s burgeoning rental market. If you’re looking for an investment rental property, it’s as important to know when to say no as when to say yes to a purchase. Follow these pointers for the highest rate of return on your investment:

What to look for in a rental property purchase

  • Numbers Game: Search currently available rentals in any areas you’re considering. A high volume of vacancies in a neighborhood can indicate something’s afoot.
  • Property upkeep: Poorly maintained neighboring properties lower the value of your own investment. Make note of the condition of homes and surrounding properties as you search.
  • Amenity access: Renters typically prefer easy access to shopping, restaurants, entertainment, and transportation. A rental that’s surrounded by commercial properties is going to be less appealing.
  • Neighborhood safety: Research area crime rates before committing to any investment property. There may be statistics worth considering.
  • Around the clock: Spend time around any investment property of interest during various times of day and night and day of the week to get a true sense of 24/7 traffic, noise, and activity patterns.
  • Neighborly news: Walk the neighborhood and talk to current residents to get a full picture of life in and around any potential investment property.

Ready to commit? Finance with an Idaho Hard Money Loan

We’re the go–to finance source for Idaho real estate investors who have found the perfect rental property. If you’re looking for easy, flexible purchase or equity loan options, call us to learn more about how the experienced team of hard money lenders can help.