It is easy for any investor, novice or master, to see if a property has been vacant for a considerable time or if its market value is continually decreasing. However, it can be difficult to focus on the things that scream out to us and show that this property is worth the time and effort of investing. Here are our top five signs of a good real estate investment.

1. Has Curb Appeal

First and foremost is curb appeal. It may or may not look like much now, but if you need to present this property to future tenants, does it scream, “rent me”? Can you make the necessary changes without impacting your financial situation if needed? Knowing that a tenant will most likely rely heavily on appearances, you want to ensure that your home can put its best foot forward.

2. Can be Renovated Without Breaking the Budget

So many of us can look at the worst house on the market and still somehow, in our heads, work out a way to strip this or replace that and turn this seemingly worthless home into a tenant-grabbing machine. And don’t get me wrong, there is nothing wrong with mastering this ability to see the result while looking at the present picture. However, you want to make sure that your venture makes sense. Does the cost make sense? Will it offset your ability to make money? Keep these things in mind when looking over potential new investments.

3. Good School District

You don’t exactly have to be standing on the property to learn more about this subject. Use the internet and find out what all the other sites say about the nearby schools. Don’t limit your research to just high school or college. Look for all schools and see how they are rated and viewed in the community. This will also impact the mindset of potential tenants, so do your homework.

4. Nice Neighborhood

Normally, this goes without saying: you want to ensure your rental property sits inside a nice neighborhood. As far as crime and everything related, yes, that is correct. But there is another version of a “nice” neighborhood that can also tell a story about your potential investment property. Is the community thriving? Are the houses kept up with, or do they look stale? You can tell a lot by paying attention to how the neighborhood keeps up with the times. If the houses look like they are continually being updated and treated with some TLC, this may be a good neighborhood for an investment.

5. Job Growth

One thing we often don’t think about when choosing an investment property is job growth in that area. If an area is booming with available jobs, then, of course, it is a great place for tenants to live. Even if the terms aren’t long, you can be assured there will at least be a decent number of people utilizing or wanting to utilize the area around availability. Research the community surrounding your potential investment. Steady job growth is a good sign for the property.

We repeatedly state that real estate investing is a perfected art form; no one starts as a master of the trade. So, take some time to learn as much as you can about investing. We are always here to help! Contact Buckeye Northwest Realty today to learn how we can help you plan your new future in real estate investing.