Owning a rental property can seem like a great investment and a good way to make additional income. But, if you aren’t a professional real estate investor with experience managing properties, it can be more difficult than it looks. You can also quickly find yourself paying multiple mortgages, if you have homes to rent but no interested tenants. Obviously, there are a lot of factors that play into how successful a rental property is but location probably tops the list. After all, some areas are more desirable than others. Some areas are also more likely to attract renters. So where in the country are the best places to own a rental property? Well, according to one recent analysis, cities in Florida are a good bet right now. Places like Orlando, St. Petersburg, and Tampa all ranked among the nation’s best places to own a rental. Other cities included Seattle, Denver, Atlanta, Colorado Springs, and Phoenix. The number one city, however, was Arlington, Texas. Wherever you’re looking, though, a good indicator is population growth. Buy in a neighborhood that people are moving to and, naturally, you’ll have an easier time attracting tenants. More here.
