Garden Of Flowers Wyoming

Several years ago we thought that buying and leasing out rental homes was a good long term investment. We bought a larger house and decided to rent out the old house and we now own two rental homes. So much has changed over the past year but I still believe that moderately sized and priced housing will be a good long term (ten or more years) investment.

Understanding the real estate market and what tenants need in a house is critical-

The tenants typically are:

Single mothers or fathers that receive or pay child support May have good incomes but very little discretionary money left over Young families May have income or cash flow but bankrupt from loss of job or medical expenses Forced to move because of economic loss or divorce Attending school part-time Own cherished dogs or cats Smoke cigarettes Disabled Retired

The landlord must supply:

A clean house in a decent neighborhood Average or above average public schools Moderate in size, 900 to 1300 square foot At least one full bath and a bath-and-a-half Walking distance to transportation, schools, work, shopping Fenced yard for children and pets Well insulated attic, updated windows and reliable appliances Moderate sized and easy to maintain lawn, shrubs and flower beds

The competition for good tenants is fierce right now with many vacant homes and amateur landlords willing to rent even to cover the costs of utilities and taxes. In order for the landlords to survive this lull in the market and protect their long term investment they will have to be more flexible in pricing and be willing to upgrade their houses. Making these short-term investments now will lead to long-term appreciation.

Frank Kalinski is a licensed builder in the State of Michigan and has run a gutter repair service for five years. Now doing home residential rental inspection for property owners he has seen many homes and how people live in them. He sees many products and designs years after construction- some things work well and some not. Simple, basic, tried and true generally last the longest and are most economical. Please visit my new web site at [frg-s/]