Why Invest in Single Family Homes?
Single-family homes tend to attract longer-term renters. They are also easier to finance with long-term fixed rate loans, and tend to be easier to sell – if they are in the median price range of an area with strong job and population growth. Families generally prefer raising their kids in safe suburban neighborhoods with good schools, and more and more millennials are also choosing homes with yards for their pets. 2-4 unit buildings are desirable for investors, but can be highly unattractive to renters in certain metros. That’s why it’s always important to have your finger on the pulse of rental demand in any given area.
How Does Real Wealth Network Help Me Invest?
1. Real Wealth Network Identifies a Strong U.S. Market
Our Real Wealth Network team first identifies markets around the country that have strong job and population growth, along with affordability and city or state funded revitalization. We also look for areas that have landlord friendly laws, low state income taxes, and renter desirability.
2. We Find Local Investors with a Strong Track Record
Since most of our members are busy professionals who don’t have the time to fly out to a cashflow market, meet with Realtors, make dozens of offers, recruit and oversee contractors, screen tenants and oversee the management of that property, we rely on experienced local teams to do all that for us. Real Wealth Network scouts the area for an experienced local team of professionals who know how to find distressed property at steep discount and have renovation crews available to upgrade those properties to rent-ready conditions. We ask that those renovations meet RWN’s R.E.A.L. income property standards (which can be verified by a 3rd party inspection report.).
3. We Research Property Management Companies
Once we have identified the market and team, we carefully review their property management systems. We look for a strong track record, a transparent on-line accounting system, and rigid tenant applicant screening process. We also want to know how many properties they manage, and how much experience they have with evictions. We have found that no matter how great an area or property is, the property management makes all the difference in the performance of that investment.
Since we have no ownership in these companies, we rely on our members to give us feedback which we share with potential buyers. If we receive low ratings, those companies will be removed from our referral list. You can get that list by speaking with one of our investment counselors by clicking here.
Disclaimer: Always check in with Real Wealth Network before purchasing a property to verify that certain property teams and markets have not changed in quality or performance. Also, always protect yourself by ordering a 3rd party inspection and appraisal before purchasing any investment property.