We just returned home from a “mini vacation” to Myrtle Beach. The best part of the trip was that we beat all the spring breakers who will migrate there in the next several weeks, the bad news is that we were a little early to get the warm sunshine that I was very much hoping for. We had a fabulous time any enjoyed many of the attractions and wonderful restaurants as we could in three days.

We decided to spare 90 minutes of our trip to listen to a presentation about the importance of owning a timeshare in beautiful Myrtle Beach. I think that Jennifer got the idea about two minutes in to the presentation that my husband and I had no interest in purchasing a timeshare no matter how many bonus points, discounted dinners, or free travel deals she had up her sleeve. Her statistics said that one in four would purchase but my husband and I were determined that it would not be us.

Although Jennifer did have us thinking about how nice it would be to be able to travel more frequently and with more ease than the old timeshare plans, we have been giving some serious thought recently to investing in our future and taking advantage of the current housing market. Therefore I thought it would be appropriate to share with you some tips on how to invest in rental property. Here are some things to look for to be sure your rental will be a worthwile investment.

• Location: If traffic is heavier, rentals are generally easier to rent. A sign will attract more prospects than a print ad. This is also true of places close to ammenties. Think of areas close to interstates and shopping.

• Numbers: Run the numbers. Be sure that you will have positive cash flow from the start. Get pre-qualified and be ready to act! If you did find a good deal, chances are it won’t last long…so be prepared to make an offer.

• High Home Prices: Look in towns with high home prices. This will create rental demand. What do people do when they can’t afford to buy? They rent!

• Low Maintenance Buildings: Choose newer construction over older, lower maintenance means less headaches and more profits. Keep your search to 15 -20 years max. Same with the yard and landscaping, look for smaller lots with yards that will be easy to maintain for you and your tenant.

• Inspect: Make sure it is up to code and zoning

• Stable Neighborhood: Make sure that the neighborhood is stable or improving.

• Schools: A good school system is extremely important for those tenants with children.

For fun, I have included 24 Rental Properties in Gwinnett County that are under 100K and available for purchase. Please note that I have not previewed these homes and do not know the physical condition of them. For more information please feel free to contact me.