Logan McKay Zylstra

Leased a single-family rental on an acre in 2 days this week. It got me thinking about what I'm actually buying when I look at a property with land. The fast lease is the short-term payoff. Renters who want space, a yard, parking, room for a dog or a trailer, do not have many options anymore. So when one shows up they move on it. But the part I care about more is the long game. Look at what's getting built. Density, every time. Smaller lots, attached units, more doors squeezed onto less ground.

The biggest mistake I see investors make when buying rentals is that they assume tenants will be okay with the quirks that the property has. If something about a property annoys you if you lived in the unit, IT WILL ALSO BOTHER YOUR PROSPECTIVE TENANT. Could be a bad location, shared community space to get to unit, low ceiling heights, bad lighting, not being fully rent ready, etc. These issues lead to higher DOM and lower rents. Tenants don't overlook these issues and neither should you.