When it comes to looking for the best real estate investment properties, apartments are the best. In fact, apartment rentals are the best property type to begin investing in real estate at all. However, how do you find apartments for sale that are profitable?
There are so many factors that make apartments amongst the best real estate investments. We are here to tell you why this is the case, in addition to where you should you look for them and how to make sure you invest in profitable apartments for sale.
Related: Long-Term Rentals: Why You Should Invest in them.
Why are apartments amongst the best investments?
Investing in apartments for rent comes with many advantages in many different aspects. On an educational aspect, apartments are the best property type for you to invest in. It does not take much to really understand the business, especially if you are a beginner real estate investor. Procedures that come with apartments for sale are much simpler than those that come with other property types.
In terms of availability and demand, apartments are the best. Whenever you look for apartments for sale, you will find that there are more of those than other investment properties in one area. Moreover, the demand for apartments is high and is expected to increase over time. This makes them one of the low-risk real estate investment strategies, especially for beginner real estate investors.
Another aspect that is important is financing. Apartments are amongst the best real estate investment properties in terms of financing. It is easy to get a loan to buy apartments for sale due to the steady rental income they generate. This is something that money lenders take into consideration when you apply for a loan to buy rental properties.
Related: Are Apartment Rentals the Best Real Estate Investment Strategy for Beginner Investors?
Where do you find apartments for sale?
There are so many sources to look for apartments for sale. So, try looking for apartments through:
- Networking: There are many groups and clubs that investors have. Join one of these clubs and get to meet other real estate investors. The best part about these groups is that they share investment deals that other people do not know about. You could also find the best and cheapest deals through them. If not a group, then you can also ask people you know. Check with your relatives and friends and see if they know about any apartments for sale.
- Go online: The internet has made everything available at a simple click of a mouse. You can find plenty of real estate websites that have property listings for sale. You can choose based on a specific property type which, in this case, is apartments for sale. Well, needless to say, Mashvisor is one of these websites, so feel free to check out our property listings.
- Through a realtor/real estate agent: Some work requires professionals, and that is why you have realtors/real estate agents available at your service. They have all the best choices of rental properties, especially apartments for rent. They know exactly where to look for apartments for sale, so make sure you work with one.
- Local printed media: This is one of the most traditional sources of finding rental properties for sale. You can go through a newspaper or even a pamphlet that usually has ads. The good thing is that you can pick these up at any local grocery store.
- Auctions: Well, you can search for online auctions and find what property deals they have. Or, you could check with private auction companies that hold major events where they sell a large number of properties at once. You could check if they have any offers on apartments for sale.
How to make sure to find profitable apartments for sale?
As we said before, when buying investment properties, specifically rental properties, you want to make sure they are profitable. In other words, you want to make sure you have a high rate of return on the property you choose. This is exactly what’s going to help you make money when investing in apartments for rent. So, here are our tips on profitable apartments for sale:
- Pick the right location: For the millionth time, we will say location, location, location. This is the rule in real estate, and it has been there ever since the Stone Age! The right location of a property is what makes it profitable. This is not the only factor, however. There are also other factors that you should take into consideration along with it such as the rental strategy. But, the main factor is still the location.
- Hire a real estate agent: In order to find the best deals on apartments for sale, you will have to hire an expert. A real estate agent knows where and, most importantly, how to find profitable apartments for sale. He/she will guide you through the process and help you make a decision regarding the purchase.
- Investment property analysis: The most profitable properties are spotted through the right calculations. The investment property analysis is the most accurate method of evaluating the return on an investment property. This process includes calculating the cap rate and the cash on cash return as well as the estimated rental income. These are, in fact, the main determinants of profitable rental properties.
Finding apartments for sale with the help of an investment property calculator
If the previous steps sound like a lot of work for you to do, there are always tools that make everything easier for real estate investors. You can simply purchase an investment property calculator. This tool is amongst the best when it comes to calculating accurate figures. The investment property calculator will make it easier for you and will take your analysis far beyond numbers and figures. Keep in mind that this simple real estate investing tool will help you spot the hottest locations to find apartments for sale. Therefore, check out Mashvisor for the best investment property calculator and enjoy finding the best real estate investment properties for sale.