7 Things To Know About Investing In Rental Properties #55
Have you been looking at the local real estate market lately? Are you ready to start thinking about purchasing a rental property as a part of your long-term investment strategy? What are the benefits and potential pitfalls that come with investing in a rental property? If you are ready to jump into what it takes to invest in real estate using rental properties, you’ve come to the right place! On this episode, I’ll cover some helpful tips that savvy professionals like you can use to make the most informed financial decisions when it comes to investing in rental properties. Make sure you have pen and paper handy, you don’t want to miss a minute of this informative episode!
You will want to hear this episode if you are interested in...
Using rental properties wisley [1:10]
Make sure you do your due diligence before you buy [3:00]
Know your future return on the investment [4:45]
Leveraging your rental property for tax advantages [7:00]
Buying a rental property [9:30]
Finding the right rental property to get started [14:00]
Managing your rental property [17:00]
Should you buy a rental property? [19:00]
Closing thoughts [20:50]
Don’t just buy any house, buy the right one!
If you are looking into buying a rental property, keep much of that same energy and caution that you had when you bought your first house! The last thing you want is to let your guard down when it comes to purchasing the right rental property - do your due diligence and don’t skimp! Should you really buy that house that just went up for sale next door? Is it really worth it to buy a rental property across state lines? If you want to get a good idea on some of the helpful parameters that you need to consider when purchasing a rental property - listen to this episode!
What is your target ROI?
Many people turn to investing in a rental property because they heard it was a good idea or it just made the most sense to them. What is your goal? Have you thought about your end game when it comes to purchasing a rental property? How much will you need to rent it out for? What are your projected expenses? If you don’t have an investment plan BEFORE you purchase a property you likely won’t develop one before it's too late. If you want to make sure you are crossing all of your “t’s” and dotting all of your “i’s,” you are in luck! Learn from my experience of managing several rental properties over the years - I’ll point you in the right direction!