Mashvisor ToolsHow to Get Into Rental Properties with Mashvisor by Mira Teneff March 17, 2020March 11, 2020 by Mira Teneff March 17, 2020March 11, 2020If you are looking for a passive income stream, learning how to get into rental properties may be the thing for you. Although some may argue that flipping houses, property management, or becoming a real estate agent are the best real estate career paths, none can bring in passive income. On the other hand, buying rental property and subsequently hiring a property manager is one of the easiest ways to make money in real estate. That is, when you have Mashvisor on your team!In this article, we will focus on how to become a real estate investor using Mashvisor. But before we get into how Mashvisor can help you, let’s look at what you need to decide before you get started.What You Need to Decide Before You Get Started with Rental PropertiesBefore buying a rental property, there are a few things to decide so you know where to begin with your search for an investment property. Size of InvestmentThe price of the rental investment property is not your only cost. There are also closing costs, repairs, and perhaps even furnishing for the intended purpose. Decide how much you are willing to spend in total. It is important to stay cash-flow positive when first getting into rental properties. Knowing your costs upfront will help you achieve this.Related: 11 Costs First Time Real Estate Investors Should ConsiderInvestment Property TypeThere are many kinds of real estate you can buy and rent out: a single family house, a multi family home, a condo. Each type attracts a different target group of tenants. It is good to think about who you would want to occupy your property before starting your search.ConditionWhen first getting into rental properties, it seems easy to buy cheap abandoned properties and turn them into top-notch rentals. But repairs and upgrades are often more expensive than you think and take more time than you want to spare. So set limits on the condition and the amount of work needed to get the property ready to rent out. The fewer things that need fixing, the sooner you will start renting it and generating cash flow. Risky investments are not how to get into rental properties for the first time.LocationDo you want your rental property to be close to home or do you want it to double as your vacation home? If you are willing to invest in housing markets outside your city, take a look at the most profitable locations for traditional rentals in 2020 and the most profitable Airbnb locations for 2020.Property ManagementOwning rental properties is one thing, managing them is completely another. You can do it yourself if you live nearby and it is just one property. But when you start renting houses on Airbnb, for instance, you will most probably need some help checking guests in and out all the time. Long term rentals are much easier to manage. Tenants are usually responsible for cleaning, shoveling snow, mowing the lawn, etc. Condos usually come with some property management provided, which adds to the cost. Related: How to Manage Rental Properties on Your OwnHow to Get into Rental Properties Successfully with MashvisorTo start your own rental property business, you need to be very good at finding income properties. Not just any location will bring you the rental income you want. The two general groups of clients you would have to consider when choosing a real estate market are:Tenants. For long term rentals, look for family-friendly locations with access to parks, shopping areas, eateries, and schools.Tourists. For short term rentals, look for the best locations within walking distance of downtown and major landmarks, with access to public transport. Business districts are also a good place to look because people traveling for work prefer staying close to the office.That is why you need to do a complete market and rental property analysis before buying investment property. Mashvisor is a platform that offers handy tools to help you in finding investment properties fitting your criteria and expectations. Here are some of the tools that any real estate investor would find helpful.Heatmap Analysis ToolThe Mashvisor heatmap helps if you do not know where and how to find rental properties for sale that meet certain criteria. It lets you see how different areas perform in terms of listing prices, traditional and Airbnb rental income, traditional and Airbnb cash on cash return, and more. This way you can choose an area to invest in based on the state of its rental market. Mashvisor’s Heatmap Analysis ToolRelated: How to Find the Best Investment Property Using a HeatmapWith this neighborhood analysis, you can identify good and bad neighborhoods. For example, bad ones may be marked in red when you select the Cash on Cash Return filter. Try it out for yourself by signing up for Mashvisor. Sign Up for MashvisorRental Property FinderThe Mashvisor property finder lists the best rental properties in your area of choice based on cash on cash return. This way you can easily choose the best one(s) that fits your real investing needs.Mashvisor’s Property FinderTo learn more about the property finder and how it’ll help you get into rental properties, click here! Rental Property CalculatorYou can enter your own startup costs and mortgage details in the Mashvisor rental property calculator to get an accurate estimate of the cap rate and cash on cash return. This is all necessary for planning your property management and cash flow. You’ll also get to see your expected occupancy rate as well as other key property metrics.Related: Mashvisor: The Best Rental Property Calculator You Could Ask ForTraditional vs Airbnb Rental Property AnalysisThe Mashvisor rental property calculator also lets you compare the expected rental income and return on investment metrics from Airbnb vs renting out to help you decide on a rental strategy. You can also see other Airbnb and traditional rental properties in the area and benchmark the ones you are interested in buying. Compare by the number of bedrooms and bathrooms, Airbnb occupancy rate, Airbnb ratings, and other Airbnb metrics. This will all help you make an informed rental property investment. Mashvisor’s Rental Strategy ComparisonTo learn more about how we will help you make faster and smarter real estate investment decisions, click here.One of the best things about Mashvisor is that real estate data is accurate and real-time. The data for Airbnb properties comes directly from Airbnb and the MLS and is verified using data from real Airbnb hosts and the traditional rentals data – from reliable sites like Zillow and the MLS.Using all the tools Mashvisor has to offer, you can start your own rental property business with confidence. Finding income properties and earning optimal income will be easy and fast.Ready to get started with rental properties with Mashvisor? Start your 7-day free trial now. Start Your Investment Property Search! START FREE TRIAL CostsHeatmapInvestment CalculatorLocationProperty FinderRental Strategies 0FacebookTwitterGoogle +PinterestLinkedin Mira TeneffMira's family is in the real estate development business. She enjoys sharing her knowledge with others looking to invest in real estate. Previous Post Rental Real Estate Investing for Beginners: The Ultimate Guide Next Post The Best Real Estate Investments During the Spread of the Coronavirus Related Posts Real Estate Investment: Biggest Advantages and Best Tool to Use How to Find Investment Property Without the MLS How to Analyze Your Local Housing Market to Find Real Estate Deals Where to Get Reliable Airbnb Data in 2021 Real Estate Investment Calculator: An Expensive Luxury or an Absolute Must for Investors? How to Use Mashvisor’s Rental Property Calculator Where Can You Find Reliable Cap Rates for Single Family Homes? 3 Tools You Need to Find Cash Flow Properties for Sale The Cash on Cash Return Calculator You Need in 2020 Exporting An Investment Property Report: All the Data in One Place 2 Real Estate Resources You Need to Start Using Now How Can You Find the Best Investment Property For Sale in the US Housing Market?