The vast majority of my property portfolio consists of apartments. I enjoy investing in apartments as usually the cost of entry is much lower than that of houses. Furthermore, the simplicity that comes with investing in an apartment, whether it be a one bedroom apartment or a five bedroom apartment is very alluring for me. Hence, when I made a visit to Texas the other day, I had made a visit to some Richardson TX apartments to see whether there were any great investment opportunities.
â?¨Throughout my trip, I was very surprised to find out that there were a lot of new developments occurring in the area. This immediately made me more interested in investing in Richardson as new developments are a sign of growth, and with growth comes great investment opportunities. I knew if I could find apartments that were close to the major developments and were also close to public transport, I would definitely be able to find an apartment that would not only be able to give me lots of capital gain but also a steady stream of income through tenants.
â?¨I had a look at the average tenant profile in Richardson and was surprised to find that they were a lot more reliable than the tenants of many other areas of the country. The problem that I face sometimes with my rental properties is that tenants donâ??t pay on time or become unreliable and leave my property for another after a few months. This is tremendously costly and can lead to my portfolio losing a lot of value over the course of a very short amount of time. Costs that are involved with finding a new tenant, as well as writing off the unpaid rent as bad debts is usually a very bad thing for my financial position.
However, looking into the great track record of many tenants in Richardson was definitely a wonderful thing for me to learn. At first I was a little bit unsure about whether or not investing in Richardson would be a good idea. After all, I didnâ??t want to have to deal with the headache of tenants not paying and leaving yet again in another city. However, I trusted that those renting Richardson TX apartments were of a high calibre and would reliable in providing me with rent in a timely manner. Because of this, I was quite certain that investing in a few apartments in the area would be an amazing investment decision for me to make.
The apartments in Richardson that I have invested in are doing great so far. After all the effort and research that I had done, Iâ??m glad that I was able to find some apartments that were of an outstanding quality. The tenants that currently occupy these apartments are great people and very reliable, meaning that I get to rest easy knowing that my portfolio will be stable and growing for the near future. For any property investor, I definitely believe that they should check out the many apartments for sale in Richardson.