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Rental property offers many opportunities

On Behalf of Crislip, Philip and Royal | Nov 5, 2019 | Real estate transactions

The Memphis rental market can be a good investment for many reasons. The city has a larger than average percentage of renters (43% here versus 33% nationally). Properties here cost below the national average, and experts in the local market predict steady increases in value.

These numbers are good news for those who have already bought or plan to do so. However, many believe that owning rental property is a sound financial deal whether the market is up or down.

The benefits of owning rental property

Different properties have unique opportunities, but general advantages include:

  • Good for cash flow: Rental properties bring in cash for rent, which generally outperforms stock returns. Those investors who have assets tied up in stock or other investments may also want to increase their cash flow, which they can then leverage for loans or other investments like more property.
  • Property values go up: Many remember when the real estate market went down a decade ago, but properties here in Memphis have trended up. Increases in value are separate from rental income and can be a significant bonus for owners.
  • Inflation benefits: Inflation is a good thing when it comes to real estate. It drives real estate prices up while providing less exposure to risk than many investment opportunities.

It just takes planning

Some investors would rather buy something and then leave it be, but property owners need only be judicious to protect their interests. This includes finding quality contractors to maintain the property, avoid accumulating too much debt, and keeping proper books. It also helps to work with a real estate attorney who can protect the owner’s interests and help them avoid costly mistakes.

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