But how do you get started in rental property investing in 2020? Here are the 10 top tips for successful rental property investing in 2020:
– Rental Property Investing Tip #1: Choose One of the Best Places for Real Estate Investing
Conduct real estate market analysis and real estate research to select a location with high cash on cash return in real estate investing for your preferred rental strategy, whether a traditional or an Airbnb rental property.
To find out the best places for traditional rental property investing in 2020 for cash on cash return in real estate, watch https://www.youtube.com/watch?v=_hXIFyZa0YU.
If you are interested in Airbnb investment properties instead, watch https://www.youtube.com/watch?v=HQ-JEP73tKg to find out the best places for buying an Airbnb income property in 2020 for cash on cash return in real estate.
– Rental Property Investing Tip #2: Consider Out of State Real Estate Investing
As a beginner real estate investor, you should not limit yourself to the local housing market. Frequently out of state real estate investing for beginners offers a higher cash on cash return in real estate.
– Rental Property Investing Tip #3: Invest in a Single Family Home
Single family rental properties are cheaper to buy, maintain, and repair, while dealing with one tenant only is preferable for new real estate investors.
– Rental Property Investing Tip #4: Get Your Finances in Order
Find out the best rental financing option for your particular case (conventional mortgage, FHA loan, private money lender, hard money loan, etc.) and shop around for the lowest interest rate.
– Rental Property Investing Tip #5: Use AI Real Estate Investing Tools
A real estate heatmap tool, an investment property calculator, and a property finder which use AI, big data, and predictive analytics will help you buy the most profitable rental property in your real estate market.
Here are some of the must-have real estate investment tools for 2020: https://www.mashvisor.com/blog/real-estate-investment-tools-2020/.
– Rental Property Investing Tip #6: Choose the Optimal Rental Strategy
Conduct real estate market analysis to find out whether traditional or Airbnb rental properties make more money in your area for your particular property type.
Here is how to perform real estate market analysis: https://www.mashvisor.com/blog/real-estate-market-analysis/.
– Rental Property Investing Tip #7: Study the Local Rental Laws
If you go for a traditional rental property, look up the landlord-tenant laws and the rent control rules. If you invest in an Airbnb income property, check out the short term rental laws and regulations in the area. Operating your rental property business legally is crucially important for beginner real estate investors.
– Rental Property Investing Tip #8: Put Together a Rental Property Marketing Strategy
To avoid a high vacancy rate and increase your return on investment, you should come up with a marketing strategy to attract tenants or Airbnb hosts right away, depending on your rental property type.
– Rental Property Investing Tip #9: Screen Your Tenants Properly
With a traditional income property, you should develop a diligent yet non-discriminatory screening process to get good tenants who pay rent on time and don’t cause excessive wear and tear.
– Rental Property Investing Tip #10: Hire a Professional Rental Property Manager
As a beginner real estate investor, you should consider hiring a professional property management company to optimize your cash on cash return in real estate and make passive income from real estate investing for beginners.
Ready to start investing in real estate to make money in 2020 and beyond?
To find and buy the most profitable traditional and Airbnb rental properties in the US real estate market quickly and efficiently, visit https://www.mashvisor.com.