Here’s what you need to know about buying investment properties.
Today let’s dive into the world of buy-and-hold real estate investing. Some say it’s one of the best ways to get rich slowly.
When buying an investment property, there are a few ways to profit. You could have a long-term renter in place who signs a yearly lease, or you could use the property for short-term rentals, such as renting them out on Airbnb or Vrbo. Both options have their pros and cons.
The main goal of real estate investing is to make enough money to cover all the expenses and also to provide monthly cash flow that you can use as you see fit. Just imagine if you owned two or three rental properties; not only could you build a nest egg of hundreds of thousands of dollars, but you could also gain thousands each month via cash flow.
“Being a successful landlord comes with many requirements, and we’d be happy to help you with them.”
When buying an investment property, you’ll likely need a 20% to 25% cash down payment. Depending on which city you buy in, you may also need to get a rental license. Additionally, you’ll probably need extra funds to get the home market-ready. Once the property is ready to rent, you’ll then need to list it to all the major rental sites and find a great tenant.
Whether you’re a seasoned investor or someone who’s just starting out and you’d like to get more information about purchasing rental property, don’t hesitate to reach out to us. There are so many things that need to be done for you to be a successful landlord, and we’d be happy to help with all of it.
