In order to make your real estate investments successful, you must keep location in mind. Yes, it may seem cliche, but the location is still a critical consideration when purchasing real estate because it has a direct impact on how well the property does as an investment. Here’s how to use location to your advantage when buying investments.
Consider the target tenant for your investment. Then, consider what that person needs in a home location. Do they need to be close to amenities? What are their shopping habits? Are there shops to accommodate them? Do they need excellent schools? Libraries? Some of your tenants may rely solely on public transportation. How close are you to trains, buses, ride-share hubs, etc.? These are but a few questions you should ask yourself when choosing a property.
Next, consider where the excellent schools are in your area. Schools may not appeal to all of your potential tenants, but they are important in the overall value of the home. Being in a top-rated school district or near top-rated schools makes a home more valuable. Don’t forget to consider plans for future schools or school upgrades, because investments should be long term in nature.
Is the home near shopping and dining options? Will the residents have easy access to a grocery store? Does it have parks or recreational opportunities nearby? Most of the time, tenants or buyers want these important amenities within a five or ten-minute drive from their house. If you can find an investment property near local amenities, it will be more valuable than one far from them, particularly if you’re going to use it as a rental.
If your city has a good public transit system, consider investments with easy access to this. Not all cities do, but this can be a major perk if yours is equipped with one. People who can use public transit can leave their cars at home, and this can help them save money. For some, this is a feature that they hope for when choosing a home to rent or buy.
Investing in real estate requires the right strategic planning. To make sure you are ready, research location well. Finding a great property in a great location will help you find investment success.
I am a real estate broker, property manager, and investor, located in Ann Arbor, Michigan. To each client, I bring close to a decade of experience in real estate, first as a real estate investor, then manager, and now love to share my experience and knowledge with property buyers and sellers as a real estate broker. Since attending the University of Michigan in 2005, I have lived in Ann Arbor ever since. My exceptional knowledge of the market as an investor and property manager provides a unique perspective and competitive advantage to my clients for selling and buying both residential and investment properties.
I have successfully managed investment properties in Ypsilanti and Kalamazoo and have conducted real estate transactions throughout southeast Michigan. Whether clients are looking for their first home, vacation homes, or the home of their dreams, I will be able to stay on top of the process, remove obstacles and make the real estate deals as pleasurable as possible. I enjoy working with people and finding ways to share a laugh or two in the process. I take pride in being available to my clients and being responsive to their needs.
In addition to my residential property expertise, and my multicultural background, I am capable of working with international investors and home buyers to make their international property purchases smoother and trouble-free. If you are interested in the acquisition of investment homes for your children while they attend the University of Michigan, as a property manager, investor, and broker, I will be able to help you make that reality come true.
I graduated from the University of Michigan and own and operate several businesses in Ann Arbor and Ypsilanti. In addition to my real estate experience, I am also a technology enthusiast and am always on the hunt to use technology and media to enhance the buying and selling experience.
If you are looking to make your first home purchase, or are trying to sell your home, give me a call and I can guide you through the services that I can offer you to help you start along the journey. I take great pride in my work and it would be an honor for me to represent you and your needs.
Yours truly, Vincent Zhang