If you want to buy a rental property, buy it only after checking the two-year lease records. This allows you to see if the seller is accurately presenting the profits associated with the property. In addition, your lender may want to look at an income test before granting a loan.
When buying a new home, it is very important to think about the long term and not just the short term. You may not have kids right now, but don't stop thinking about things like the school environment if you think you can stay home alone to have kids.
You can get more information on buying a home in Bend Oregon at www.gobend.com/home-buying-bend-central-Oregon.
Research the property that interests you before you buy it. If you are looking to buy a rental property, there are several important factors to consider. One of them is sustainability. Is the property in good condition and will it remain so with minimal maintenance? The second is location. The location of the property should be an important part of your decision as it is aimed at your tenants.
Check access to bus routes, shops, and services. The average income in this area also plays a role. This is not the same as a physical location. You have to remember that any area with low rents is worse than any area with high rents. In areas with higher rents, location adequacy is less of a concern than in areas with lower rents.
If you want to add more value to your property, do some renovations. This allows you to get a quick return as your property value increases. Sometimes your value increases more than what you have invested.