Summer is the busiest and best time to start investing in your very own rental property! Blacksburg, Radford, and Christiansburg are some of the best places in the New River Valley to own rental properties. Now is the time to start your journey as an investment property owner. Many people such as professors and college students are looking for rental properties near Virginia Tech and Radford University.
Why Invest?
With the housing market constantly changing, rental properties make amazing investments. Since 2021, property prices have jumped 22%. Renting out your property puts more money in your pocket faster with less volatility. A rental property is a long-term investment that allows you to have monthly income that you can put towards the property’s mortgage. Overtime, the home will pay for itself and leave you with equity for the future.
Investing in a College Town
Investing in a rental property within a college town is ideal. There is a larger pool of tenants and rental rates are steady because the demand for housing is consistent and high. The convenient location to grocery stores, shopping centers, and restaurants makes it easily accessible for the renter. This allows you to charge a reasonable price for your property. It also allows for you to quickly pay off the mortgage on the property. With leases ending, many college students are seeking housing near their university. That makes you the perfect person to provide housing and earn money while doing so!
Investment Property Hunting
Summer is the perfect time to search for property in the New River Valley. With most students leaving for summer, touring potential investment properties is quicker and easier. If you are an out-of-town investor, this means you can easily book a flight and hotel to tour different properties. Most properties are in-between renters during summer, meaning they are for sale.
Rental properties are a great investment opportunity. College towns contribute to the benefits of investing in rental properties because of the high demand for housing, large pools of potential tenants, and consistent need for housing. A long-term investment like this pays for itself and is well worth it. Contact Real Property Management for all your rental property needs!