Being a landlord is a great way to build your wealth and increase your net worth. In fact, Money magazine listed becoming a landlord as one of its highest-rated ways for the average American citizen to become a millionaire. Even after the housing bubble and credit crisis that hit the United States in 2008, real estate is a great way to increase your wealth, save for retirement, and supplement your income with a new stream. So, how do you go about evaluating if rental real estate is right for you? There are a few things that you need to … [Read more...] about How to Evaluate the Rate of Return on Rental Property
Buying a second home may seem like an extravagance in today's cash-strapped economy, but it can potentially become a secondary source of income. With low home prices and interest rates, this may be an ideal time to become a real estate investor. However, you'll want to conduct your research carefully and keep the following tips in mind before you sink your money into a rental or holiday property. Look at Different Types of Investments Before you make this significant investment, you'll need to look at all of your options closely. Some … [Read more...] about What To Know Before You Invest In A Rental Property
Getting your house ready to rent is a lot like getting it ready to sell. There are several things that I have learned about renting my house along the way that have greatly helped speed up the process. And, there were a few stumbling blocks too that could have tripped me up getting my house ready to rent. Here are ten lessons that I learned about renting out my house and hopefully it will help you as well.
Ten Things I Learned About Renting My House
First Impressions Matter
The other day we were surprised with a tree that fell down in our … [Read more...] about
My wife and I recently listed out home for rent with a property manager. I found a great property management company that I have really enjoyed working with after asking tons of questions before hiring a property manager. Now that we have started to get the ball rolling finding renters and even showing our house to potential renters I have found a few expenses that have cropped up. Some of these costs were expected, but a few of these new expenses have kind of caught me a little off guard. Unexpected Expenses Of Being A … [Read more...] about The Unintended Costs Of Being A Landlord
More homeowners are finding themselves as accidentally landlords recently. Whether you are moving for a new job or relocating to be closer to home, many Americans are finding that they cannot sell their homes for what they owe on their mortgages. But, do you know the right questions to ask a property manager? So, if you are a landlord, the next question becomes whether or not you hire a property manager? A property manager will help you find tenants, fix problems with your home, and collect the rent or do you do it all … [Read more...] about Twenty Questions To Ask A Property Manager Before You Hire