Rental property is a great opportunity for earning some income and securing an investment for the future. Even in down economy, rental properties and owning apartments is good business sense. That’s because property values, in general, appreciate and grow over time.
If you are thinking about getting into the landlord business and purchasing some rental property, there’s one thing to consider: location, location, location. Yes, when purchasing an investment property it really is all about the location. Many people buy based on the proximity to school and access to workplace or public transportation. But, there is one aspect that many people forget when it’s time for rental property: buying close to a celebrity’s sanctuary.
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Why rent apartment near a celebrity’s residence?
Do you think it sounds strange to purchase property close to a celebrity? While at first it might not seem like conventional wisdom, it actually makes sense for investment properties. People love celebrities and will often flock to the areas where celebrities spend their time. If you own an apartment or a house that is in the same neighborhood as a celebrity, you should have no problem renting that property. People simply want to be where the action is.
Where do celebrity stars live?
In fact, celebrities live all over the world. The most obvious place to live and be close to celebrities is in Hollywood, California. Really, if you choose anywhere in the Los Angeles area you will be near where celebrities reside, rest, and have fun. Many high-profile celebrities enjoy living in West Hollywood or the Hollywood Hills. Those celebrities that prefer a more low-key lifestyle might live in the Valley or away from the city a bit.
Celebrities also live on the opposite coast in New York City. You’ll find celebrities in high-rise apartment buildings mainly because that’s the most popular and convenient type of real estate in NYC. Many celebrities own property on the Upper East Side or on Central Park West.
Where else do celebrities live?
Hollywood and New York City are the great places to consider for rental property if you want to be close to celebrities. However, there are some less common areas you may not have considered. For example, have you considered Lafayette, Louisiana as a home to celebrities?
You may want to consider purchasing Lafayette apartments if you want to be near celebrities. Some celebrities that hail from Lafayette are Angela Kinsey, David Benoit, Erin Cummings, Gerald Paddio and many more.
Sure, Lafayette might not be the most exciting place in the world, but to some celebrities, Lafayette is home.
When buying rental property, be sure to consider the proximity to celebrities and famous people. You may just be on your way to making a significant income as a landlord.