To quickly recap what you should be looking for if you’re considering a rental property, we’ve make a quick list that will help you vet potential purchases. While not the end-all, be-all, it’ll get you started down the right path and keep your attention focused on the better kind of buy for rental income.

• Total property cost: Most of the deals you’ll pick up will require some rehab. Don’t forget to factor in these costs along with maintenance, property taxes and HOA fees for a realistic total investment cost you can use against market rent rates.
• Market rent rates: Make sure you’re buying a property whose total cost won’t be put under water by unfavorable market rent rates. Do your research and compare the numbers.
• Interest rates: Unless you’re paying cash, you’ll have to carry a mortgage on your new investment property. Make sure you can get an interest rate that gives you a favorable monthly nut for a rental property. Favorable for primary residences is way different than favorable in a rental property.

Now, we’ll let you get settled into your Thursday and prep for the weekend. If you need something to do, check out our local events calendar and find something to do here in the San Juans. It’s a gorgeous part of summer, so enjoy it!

The Staff at San Juan Realty, Inc.