Investing in a rental property seems like one of the easiest (in theory) ways to make money in the real estate market. But as with anything in real estate, the act of actually purchasing the property can seem daunting, especially to first-time buyers or people unfamiliar with their local market. How do you select the right property, what steps do
you need to take, what do you need to do to get approved, etc.
Luckily, as with most topics, there's no shortage of help out there for beginners looking to break into a certain field or topic. Brandon Turner, a resident blogger for the online Real Estate magazine Bigger Pockets, lays out some of the steps in a simple, easy to read list. This list covers every step of the process at least in part, from getting pre-approved to actually selecting and closing on a property.
Click here to read the full list. And since now seems as good a time as ever for a personal plug, did you know that the Grace Frank Group has its own multifamily site? Click here to visit and view our list of multifamily properties, and feel free to contact us with any questions!
Back in December, the Chattanooga Times Free Press published an article discussing a proposal that Chattanooga Mayor Andy Berke had put forward to give away city-owned land in order to speed up the development of quality housing for lower-income families.
Though the article is a few months old, the initiative was first put forward by Berke last summer. The goal, as described by Times Free Press writer Joy Lukachick, is:
"...to have 30 low-income families in houses by the end of the fiscal year on June 30. That gives officials a little more than six months to finish vetting the properties and find developers to build the houses."
With over 1000 people in Chattanooga on the waitlist for federal housing vouchers, this approach has attracted both praise and criticism alike. Most of the criticism has been leveled at the potential cost and the forced breakup of communities to meet the demands of the initiative.
Click here to read the full article. Again, this article was initially published in the Chattanooga Times Free Press.
