If you’ve been thinking about buying an investment property, then you’ve come to the right place. Nashville has been growing steadily for a number of years and occupancy rates are high! For us, our decision to invest in rental properties helped us turn a corner professionally and financially, increasing our passive income each month so we could focus on family and other passions. It worked for us and it can work for you too!
You may choose to offer your rental for short term guests through AirBnB or other similar platforms. This approach can create tremendous value by increasing your per-day income, but may not stay full consistently.
You may also choose to focus on filling a rental with traditional long-term tenants. While your per-day income will be lower than short-term renting, the dependable consistency of the income and daily upkeep is often attractive to property owners.
Whichever approach you choose, the basics remain the same — find a relatively low-cost property that you can rent at a profit. With your tenant covering the mortgage and then some, your property is free to grow in value for years to come.
If you think that owning a rental is “something other people do,” then think again. You’re probably closer than you think to starting your own rental property collection!
Many first-time home buyers think too small when searching for a home. With some creativity and willingness to act quickly when an opportunity arises, you may find a home with multiple living spaces. These can be a great move for those just starting out — you can live in the home and let your tenant pay some or all of the mortgage!
Already a homeowner? You should check with your lender about options to refinance. It’s possible that you can use existing equity in your home to make a down payment on the rental.
Whether you’ve already found the perfect rental and need help getting it ready to occupy or are just beginning your rental search, we are here to walk with you each step of the way. Reach out today and let’s start looking for your perfect rental property!