Investing in Real Estate- Tyler TX
Tyler Texas Investment Properties
Tyler and the surrounding areas have become increasingly popular for buyer’s looking for investment properties. The continued growth of Smith County has been increasing rents in our area over the last few years while at the same time increasing property values. This has led to great returns for investors in commercial and residential real estate.
One of the most important factors in rental rates on lease homes can be schools. You should make sure and factor this in when purchasing an investment property. All areas can provide great investment opportunities but the quality of schools can greatly impact the rent.
Tyler ISD has some very popular schools that tenants are often looking for. Also, when searching for a home to lease don’t hesitate to look at outlying areas like Bullard, Lindale and Whitehouse which all have school districts very popular with renters.
Finding an Investment Home
Generally when looking for an investment property they can be purchased across all price ranges. Lower price ranges tend to have better returns for the landlord while the higher the price range generally the lower the overall return. The advantage of higher priced investment property is that often these homes have less headache than lower priced homes. Usually the tenants have more stable careers and are more likely to leave the property in good shape upon move out. Some investors may also want to consider multifamily properties like a duplex. These can be good especially for the first time investor because it is rare that both sides will be vacant at the same time. The biggest risk is often a vacant unit so with a duplex you can be reasonably certain that there is always some rent coming in.