Considered Investing?

It really can be simple. Overestimating and underestimating are the biggest factors of all time when it comes to investment properties. There are a few factors to take into prospective when it comes to becoming a property manager or investor. Of course, if you have a property manager you reduce a lot of the "dirty work" but also lose much of your profit. The course in which a property manager comes into the scene is usually after yielding many properties and/or financial gain.

8 to 15% Should be the positive cash flow of a good return rate on a property. This is not counting additional costs, repairs, credit cards...nada...If you are going to do repairs right away you need to calculate that into the cash flow and differentiate the years in which you will earn such cash flow. Want to know more...email us!

Think Duplex. Think multiple duplexes before you start getting into whole apartment buildings. The ROI might look and sound amazing on an apartment building but if the logistics are not "sound" you will find yourself in loss of profit and yes "hating being a landlord".

Now the excitement of a duplex often brings the joy of making the property "better" for your tenants. This feeling indirectly makes us feel as if the tenants will appreciate us as a landlord more because of the upgrades. This is not true when it comes to the paycheck at the end of the month. This is not true when it comes to their expectations of clean. Remember that you can do some upgrades but don't do them unnecessarily until you build the equity that can pay for it through their rent coming in as investment. Remember, you may have unexpected repairs and maintenances that you may not be calculating in.

This brings us to the next topic. SCREEN! SCREEN! SCREEN! Maybe we should say BACKGROUND CHECK! BACKGROUND CHECK! BACKGROUND CHECK! Yes, you can get into legal obligations if you do not provide equal opportunity when you provide rent at your property. Vacany, turnover and eviction will happen, but be sure it is not from the lack of a background check. CALL ON THEIR RENTAL HISTORY!

The biggest thing to remember when purchasing rental property is; is this where I would live. Our biggest investment comes from our own mind frame.

SO GO AHEAD! Go buy 1 rental investment property and live in one side and rent out the other! It is ideal and you live mortgage free! Than go get another duplex and start building......