Real Estate Corner
Q. How can I build
wealth with real estate rental properties?
A. Before purchasing rental property, consider
the following factors to make a good investment:
moderately priced properties, so you can generate more cash
flow than higher priced properties. Your
tenant’s rent should cover the mortgage, utilities, and additional expenses in
order to produce a cash flow.
full cost of owning and repairing the home. Have a property inspection before you
purchase the property to identify any potential repairs. Also, get written quotes from contractors for
repairs you’ll need to make before renting out the home.
select your tenants. Each
time a renter leaves, you have to prep it for another tenant by paying for
repairs, possible upgrades, and other costs such as advertising, credit and
background checks, plus taking time to show the unit. Long-term tenants are better for your
investment, so choose wisely and treat them well!
To learn more, call
me to request my Free Consumer Report called
to Avoid 8 Dumb Mistakes Even Smart Investors make.”
you have a real estate question you want answered? Feel free to call me at (907) 357-HOME.