Investment properties can be a great source of income, but to maximize your profit, you must know how to find lucrative listings. The property you choose will be key in determining just how successful your venture is.

Nova Property Management has been a substantial source of guidance and support for many real estate investors in Anchorage, AK. Below, they provide a few tips for uncovering the best kind of investment properties to supply you with a steady stream of revenue.

3 Tips for Finding Investment Properties

1. Focus on Location

Location is a critical factor to consider when purchasing any type of real estate, but even more so if you are looking to get the most out of an investment property. A desirable location will make a significant difference in how easy it is to find good tenants and keep spaces occupied, as well as influence how much you can charge for rent. 

2. Work With an Experienced Real Estate Professional

There are several benefits to working with an experienced real estate professional when looking for investment properties. They are familiar with the local market and understand how to spot properties with the potential to be profitable. They are also likely to have access to many more listings than you can find on your own.

3. Do the Math

Before you can identify whether or not a property is a good investment, you must have a clear understanding of the income you need to generate to make a profit. Once you’ve added up all the money that will be spent on mortgage payments, insurance expenses, and maintenance and repair costs, you will know how much you’ll need to yield a return. Then, you can turn your attention to the properties that look promising enough to match this amount.

It’s important to take all the time you need when vetting out possible investment properties to ensure you make the right selection. Contact Nova Property Management at (907) 522-1332, or visit them online to inquire about available listings.