Owning investment properties can be a great way to earn extra income. I’m linking today to an article from Peter Warden at The Mortgage Reports on a fantastic article for would be real estate investors.
Whether it’s a career choice or an extra source of income, becoming a landlord requires hard work, knowledge, and time. The idea of rent collection as a source of passive income attracts many new landlords to this profession.
But experienced landlords know this job requires an active approach. The more you work to maintain properties, find the right tenants, and keep track of all the details, the more successful you can be.Peter Warden, The Mortgage Reports
This article isn’t a quick read – it’s quite in-depth and I invite you to read the entire thing here.
He breaks down the article into 10 sections:
- What to know
- Getting started
- Financing a property
- Work involved
- Planning ahead
- Hiring help
- Legal issues
- Finding tenants
- Evicting tenants
- Forms for landlords
Many of my clients have found that owning rental property is one of the best financial moves they ever made.
At the same time, owning rental properties isn’t easy and involves a good deal of effort. However, the financial rewards can make all that worthwhile!
As Warden states, “True, owning a rental property rarely makes people rich quickly. But getting rich slowly is a very attractive alternative.”
What’s the first step? Doing the research on how to make a rental property purchase. Do reach out to me for more, as it would be my pleasure to help on the financing side.