SAN DIEGO, Nov. 11, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. Borrowers can safely find and secure the loan they need without constraint with the help of Loan Love's many advice articles and videos. Recently, the loan advice website has published a new article going over the essentials when investing in a property. The article, titled "Is Rental Property a Good Investment? (In TODAY'S Market)" is aimed at helping those interested in investing by answering a few questions while providing a few investment property tips.
The article begins by saying: "The goal of investing in rental property is to earn a profit from the rent you charge to tenants. However, depending on the characteristics of the property, the market conditions at the time and the specifics of your situation, investing in rental property may or may not be a lucrative choice. That being said, is rental property a good investment in TODAY's market? Here are some factors to consider…"
With that being said, Loan Love's article reminds loan borrowers to put things into perspective before making a financial commitment. On one side, investing in rental property can be very beneficial, especially in today's market. Recent trends show that housing prices have dropped considerably, making home and apartment purchases cheap and easy to invest in. As a bonus, mortgage rates are still at all time lows, meaning those seeking to invest may still be able to profit even if they have to take out mortgage loan to finance their investment property.
Overall, there are many benefits associated with investing in rental property. Rental rates as of today further enhances the investment deal as rental rates are showing signs of growth in many urbanized areas. However, investing in rental property may not be for everyone. Loan Love advises those seeking to invest in a rental property to take great care to attention and detail of a rental property by going over a few property traits to look out for:
"Even though the market is in a good place for investors, not every rental property offers the same earning potential. For example, properties located in low-income areas may not be able to bring in as much rent as a similar property located in an area with a higher average income. When deciding whether to invest in a rental property, consider these characteristics:
• Price - Is the property affordable? Will you buy it outright or finance it with a mortgage?
• Renovation required – Does the property need any work before it will be ready for tenants? How much will the work cost and how long will it take you to recover the cost in rent? How will you pay for the renovation?
• Maintenance - Will the property require a lot of maintenance? How much will the maintenance costs reduce your profits?
• Location - Is the property located in an area with a strong rental market? What is the average rent for a property of that size? How much profit can you earn?
• Vacancy issues – Are there a lot of rental vacancies in the area? Will you be able to afford to maintain the property if it remains vacant for an extended period of time?"
For more information on investment property, please visit LoanLove.com for the full article.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
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