If you are looking for a way to make some extra money each month from your cash savings, Seasonal real estate rentals as well as year round property rentals could be a very good investment option. Not only will you receive rental income every month, but there is also the possibility of your properties increasing in value over the course of the next ten years. Many cities are already experiencing a housing shortage, so it’s likely that property prices will continue to rise as the country’s population increases.
Of course, you need to choose the right location to buy real estate rentals in. If you want to charge premium rental rates, you will properly need to buy a property in a location that is popular with international tourists. Indeed, the short-term vacation rental market can be very lucrative. Tourists from overseas don’t have any idea about the average weekly rent rates in an area, so you can charge them a premium to stay in your accommodation.
To ensure you earn a rental income year-round, you need to look for real estate in cities that have popular tourist attractions that are open all-seasons. Las Vegas is a good example of one such city as the land-based casinos in the city attract tourists 365 days of the year.
If you are not sure where to start when it comes to finding good investment properties, you might want to contact a reputable realtor in your area. You can discuss your budget and expected monthly rental income with the realtor before allowing them to locate properties that meet your criteria. However, make sure that you always inspect a property in person before making an offer. There is only so much you can tell about an apartment by looking at photographs and floor plans on a real estate website.
Important Information To Know About Real Estate and Property Management 