The average cap rate of this property is 6.75%, and the current annual rent is $60,000. Built in 1969, it is quite an old property, which means many prospective customers know about this NNN property for sale.
>>>After that, if the house is no longer owned, because of death or relocating to a retirement house, then the house is put for sale. Whatever this sale earns money, is used to pay the initial debt and the interest occurred during the mortgage period.
>>>It doesn't matter if you are renting a house or an apartment for that matter, the basics never change. Buying property and renting property are not so different after all except for the fact that in the latter, you only get possession temporarily.
>>>City spaces are prime hot property since there is no more space available to expand, which in turn affects the cost. Suburbs are far away from these prime locations, which makes them a cheaper alternative.
>>>Ask for all documents: As a tenant, you can ask for the documents like title of the said property, maintenance receipts and more to verify that the property belongs to the owner.
>>>The house or apartment you are renting out might be a couple of years old, so first impressions are not always the best impression when it comes to property. You have to take your time and ensure everything is just the way you need.
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