Web Admin – Thursday, September 12, 2013
Today our topic is how to find a good investment property in Utah. A rental property is a great investment in this market, and you want to choose your property carefully so you can ensure a steady revenue opportunity. One of the key things you have to do is to look for places of industry. This will provide a good pool of tenants.
At Sentinel Management Group, we know just where to find the top rental markets. Right now, there is a lot of industry in Salt Lake and Lehigh. There are also some new corporations relocating to Utah and the cities surrounding the areas that those companies are settling into will make great rental markets. They will probably not price as high as major cities.
Check out the statistics and indicators provided by associations involved in real estate sales. You might want to check the National Association of Realtors or the National Association of Residential Property Managers. They should have general statistics and trends that tell you where sales are strong.
Personally, I really like new properties that don’t have a lot of maintenance or upkeep in the first 10 years. But, that’s a personal choice. What I would recommend you do is to narrow down a city that is desirable, and then choose a neighborhood to buy in. find an established neighborhood or a newer neighborhood that has a homeowners or property association. Those association neighborhoods might come with an additional fee, but they are usually stable communities. You want your property to be a good long term investment, so an established neighborhood that has a lot of pride of ownership and not a lot of turnaround is a good place to invest. It always helps to buy in an area with good schools, parks and a lot of recreational opportunities. Those areas usually attract good long term and stable tenants.
Finding a good rental market is our expertise at Sentinel Management Group. Not only do we manage properties, we also find them. If you would like some help in finding a great investment in one of Utah’s great neighborhoods, please contact us. We would be happy to help you find a terrific rental property that attracts high quality tenants.