Even though you know that it’s a good decision to invest in a rental property, the reality is that there are several other factors that you should look at to determine if that Portland Oregon Rental property will indeed be a good investment or not.
In this article, we’ll break down what you should be looking for before investing in a rental property in Portland Oregon, or elsewhere in the United States.
The first thing to look for when investing in a rental property is location.
Ideally the area where that property is located should have a thriving real estate market and a strong rental market as well.
In 2022, Portland continues to have both, as we’ve seen home prices continue to skyrocket along with rental rates in the area. This is a win-win for investors because it means that if people are unable to buy real estate in the area, they’ll turn to the rental market, and we’ve seen this reflected time and again in the Portland area over recent years.
Another thing to look for when investing in investment property in Portland Oregon, or else we’re nationwide is a strong jobs market.
Thankfully, we know that the Portland area continues to have a strong jobs market in 2022 as companies and people from all over the United States are continuing to relocate to Portland so that they can start their businesses or get good paying jobs here.
Rental Property Cash Flow
Last of all, the most important, one of the critical things that you should be looking for when investing in rental property is cash flow.
The property should be able to earn plenty of profit each month because those profits will go towards paying your mortgage, property taxes and insurance on the rental.
If that property does not make sense in terms of cash flow, it’s best to continue looking elsewhere for rentals because, the last thing that you want to do is to invest in a money pit that’s going to continue sucking money from your bottom line on a monthly basis.
Contact Rent Portland Homes
At Rent Portland Homes, we specialize in local investment property management for the Portland area. To learn more about the services that we can offer you, contact us today by clicking here.