Many people are interested in buying investment property that they can then rent out and receive a reasonable income from. Investment properties are usually considered a safe way of investing as the real estate cannot be lost in the same way as shares. And real estate value tends to rise steadily most of the time. Buying rental property can be done after taking advice from an investment property consultant to ensure you buy the right kind of property.
Some people like to buy fixer-uppers for a cheap price, renovate them and sell them at a profit. Or they can rent them out instead of selling. But if you don't want to be bothered renovating you need to be sure to invest in property in those areas that are going ahead, so that you will have no trouble in renting it out. While some like to purchase up-market properties to rent out, this really limits your chances of renting because you will have to charge a great deal in rent. Most people who could afford to pay that much rent will buy their own home to live in.
Buying too cheap is another mistake because a cheap home is usually in need of renovation and cannot be rented out if the living standard is too low. Instead, you should buy in the middle-priced market so that there will be fewer problems to fix in the house and a greater chance of having it rented out all of the time.
When investing in a block of units or flats, investors will often be happy if there is a rental guarantee, thus assuring them of a specific return on their investment. However, it pays to be careful if investment property companies offer this because once the time frame for the rental guarantee is up the new owners may find that the units can only be rented out for much less than previously. Thus the value of the investment will be less and so will the income from it. Instead, the investor should do his own research to see if those units can be rented out for the same price after the time of the rental agreement has elapsed.