Purchasing an investment property is an excellent opportunity to help you reach your long-term financial goals. However, choosing the right investment property to reach those goals requires serious consideration to mitigate your risk and maximize the profitability of your investment.  

We're answering some of our most frequently asked questions including the biggest factors to consider when evaluating investment properties to purchase.

Location, Location, Location

The area where you purchase your rental property plays a significant role in:

• The monthly rent value the property could yield
• The number of renter applicants you can expect, based on supply and local demand
• Taxes
• Local resources such as employment and amenities

Try to select a quality home which is well maintained or can be renovated to ensure the sort of profit margins and stable lease payments you're looking for in order to optimize your return. 

Our clients ask, “How do you establish your rental rates once you’ve settled on an area:

“My number one tip for someone looking to buy an investment property is to consult with a Property Manager on the current rental prices for that area. As Real Estate agents, we are able to use our knowledge, expertise, and tools to determine a price that we feel your investment would rent for. Our experience in this field can help you quickly determine if a home will provide you with enough return for your investment.” Shelley Anderson, Property Manager with ERA Grizzard Real Estate Property Management. 

House Suite Home

Once you’ve narrowed down your search to an area of a city or a neighborhood, the next step is finding the property and getting it leased to the right tenant. Every investor should figure their possible rate of return relative to their:

• Mortgage down payment and monthly installments
• Interest on an amount borrowed
• Property taxes
• Insurance
• Maintenance fees 
• Property Management

Buying a duplex can be a lucrative opportunity because it generates more than one income source to pay your expenses.

Contracting Property Management services can be a great way to promote your rental home, screen potential tenants, collect rent payments, and ease the maintenance and upkeep of your investment. This is especially convenient if don't live nearby your investment property. Request a consultation with our Property Management team.

Our clients ask, “What are renters looking for in a home?”


“They are looking for something clean, fresh, functional, and move-in ready. Renters look for property management companies because of our added benefits such as

• Licensed and insured vendors
• Convenient payment options such as online payment
• Our standards for the condition of the property”
  - Haley Gerig, Property Manager with ERA Grizzard Real Estate Property Management

Characteristics of an Ideal Investment Property

Our customers ask, “What qualities should I look for in an investment property that would make it a good rental?

“You should look for a solid house with little outside maintenance and updated appliances. However, skip the ice maker and garbage disposals. 3 bedrooms and 2 baths with a garage, fenced yard, and a screened in lanai are good properties to look for. Also, look for city operated public utilities rather than septic or well repairs.

Keep it simple and make sure it is clean. Washable paint and tile floors will help with upkeep cost once a tenant moves out. Keep it low maintenance, but maintain the property - keeping it in good condition.” Ron Ricketts, Property Manager with ERA Grizzard Real Estate Property Management.

When you shop for an income property, prioritize utility and durability over your personal style. Ensure interior flooring will stand up to wear and tear. A fresh coat of neutral paint, quality window coverings and efficient lighting will go a long way towards getting your property rented.  

Maintaining Your Investment Income Over the Long Haul

Before purchasing your investment property, you'll want to have a long term understanding of how your income could grow, relative to operating and maintenance costs.

Try to find an investment property where affordable upgrades can enable you to charge higher monthly rents. Monitor local rent averages in the community throughout the life of your rental to avoid pricing yourself out of the market, having a tenant moving to a comparable rental with a lower rate, or undercharging.

Before purchasing an investment property, you should consult with a Realtor or Property Manager on Florida tenant laws as they apply to you as a landlord and your tenants. It’s important to know about rent increase notice terms, your rights to enter your property, and terminating the lease with or without cause.

Searching for an investment property can be challenging if you try and go it alone. Determining the best location, type of home, and interior/exterior features can be a tough task for first-timers or out-of-state landlords. Partnering with a Real Estate brokerage with agents that specialize in rental properties as well as professional Property Managers can protect your financial interests.

Thinking about purchasing an investment property (or properties) in Central Florida, but don’t know how to get started? View our full brochure to learn about our property management solutions or request a consultation with a member of our Property Management team. 

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