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Donald Westra Jr. M.D. - Real Estate Tips Slideshow

Slideshow on real estate tips by Donald Westra Jr. M.D.

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Donald Westra Jr. M.D. - Real Estate Tips Slideshow

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  1. Three Things to Look Out For When Purchasing Property to Rent

  2. Donald Westra Jr. M.D. is a retired medical professional who is now a property owner and manager. He retired after a 34-year career as an obstetrician and gynecologist where he delivered over 5,000 babies. He now manages and owns rental properties via his company Westra Properties in North Carolina and Florida.

  3. Here are a few things to look for when purchasing a property for rental purposes…

  4. It is important to look at the rental market in the neighborhood of the property that might be purchased. If there is a high amount of vacancy it either means that there is a seasonal cycle or that people are leaving the neighborhood. It is important to understand why there is a high number of vacancies before purchasing a property.

  5. It is important to do research on future projects that are being planned in the neighborhood where the property is located. New public parks, malls, public transportation infrastructure, movie theaters, gyms, restaurants, and other neighborhood attraction are indications of a growing and thriving neighborhood.

  6. Lastly, it is important to understand the average rent rate of the rentals in the neighborhood. If the average rent is not enough to cover mortgage, property tax, and other miscellaneous expenses, then the property may not be worth the purchase and the search should continue. It is also important to do research on the future projection of the neighborhood in terms of rent and property tax.

  7. Donald Westra Jr. M.D. enjoys working as a property manager and is hoping to increase his property holdings in Florida. Visit Donald Westra Jr. M.D. website to know more about him.

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