Audiobooks Sample | Joshua Thomas Gordy
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General) North American (US General American - GenAM) North American (US Midwest- Chicago, Great Lakes)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
This is the retail sample of Timothy Will ink and real estate investing academies, real estate investing for beginners, learn how to get started and earned passive income through wise property management. Enjoy schools and parks are an asset to family neighborhoods, while access to nightlife or quality jobs are of interest to young professionals. Additionally, once you have found out the classification for the area in question, you can keep an eye on the local news and town hall meetings for income changes to the area that might make it more or less attractive. Deciding what to charge When it comes to deciding what to charge for your newly minted rental, you will likely already have a realistic amount in mind based on what you paid for the property, as well as what the general rates are for the area in question. With that being said, every property is different and you will need to set your rates based on what amenities you are offering. It is important not to sell yourself short when it comes to setting your rent, as you won't have an easy way to raise it until your next 10. It comes around when determining your rental price. You will want to classify the property into one of four property types. Type one properties are those which will attract premium tenants. They are in safe, clean neighborhoods, and the vacancy in turnover rates are likely to be low. Type two properties are somewhat older and tend to attract average tenants in areas that are still safe but are less clean. On average, they will likely experience turnover at the end of the given lease and may sit vacant before a new tenant moves in for these types of properties. Ah, good rule of thumb is that a property which you purchase for $100,000 should rent for at least $1000. A $200,000 home should rent for $2000 per month, etcetera. This is what is known as the 1% rule, and it is a good rule of thumb for any single family rental property. It is important to also take into account the amount you spent improving the property as well. The 1% should be in relation to the current value of the property at the time you were looking to rent it. If your property is in a rougher neighborhood, possibly one with a higher crime rate, or is a bit of a fixer upper. Then it is likely a Type three property. Tenants are more likely to be unsavory and may even leave before the lease is up. This category of property still has potential to be viable as long as you get it for a good price, are prepared for the extra challenges the area will present and if it is in better shape than most of its contemporaries. In order to make a reliable profit from these types of properties, you are going to want to charge 2% of the purchase price for the month. This extra percent will help you cover extended vacancies and compensate the extra time and energy. The property will likely require screen potential tenants. There is still one thing you need to do before you start looking for your second rental property, however, and that is screened potential tenants to ensure that you find one that you like