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Article Content:

Let me ask you a question:

What’s stopping you from buying a property?

One of  the most common answers is:

“What if I can’t find a tennant?”, if you are buying and holding.

Or “What if I can’t find a buyer?”, if you are flipping or wholesaling.

The answer is the same for both questions.

There are ALWAYS people looking to rent or buy homes.

It always has been and it always will be that way.

I know that you know that but still you are not conviced, right?

So, let’s take a closer look at the reasons why you wouldn’t be able to find a tenant or a buyer for your property:

1. The price is too high.

2. The neighborhood isn’t appealing.

3. The property itself.

4. There is no marketing plan in place.

If you can’t find a tenant for your property then you’re likely falling into one or more of the above categories.

Let’s start with A.

The property itself.

With demand for what it is you’re selling you are almost guaranteed success.

Pretty obvious right?  Amazing how this point is often overlooked by investors and business owners.

So, obviously, you want to invest into properties where you know there is demand.

Think about this for a minute.

If you are renting to students, where is the demand for housing?  That’s easy! Close to the college or university, right?

Not complicated.

But what about your typical residential property.  Where is the most demand?

Well, the most demand is always going to be in the starter home market.  It’s the most affordable and it has the most number of people looking for it.

Ask yourself, what are the typical starter homes in your community?  Town homes, maybe even a Condo?  Which is it?

There are always families looking to get into a good starter home.  Shelter is a basic need after all.

If your property falls into the category of the market where the most demand exists you reduce your risks.

Instead of focusing on a “good deal” focus on buying into demand.

That small detail changes everything.

Next time I’ll address the second excuse: “the area isn’t appealing”.

Until then,

Keep raising your Real Estate IQ.