Buying a residential rental property can be a good investment, as the property increases in value over time and brings in a monthly cash flow from rent. But, before you can reap the benefits of an investment property, here are three tips you should consider to help you during the process.
Save Your Down Payment
Before you begin shopping for a rental property, make sure you have enough cash set aside to put toward as the down payment.
Property investment is a attractive way to diversify your investment portfolio, but being a landlord can be a messy, emotional and risky job. Luckily, there are ways to reap the financial benefits of investment property ownership without having to endure the trials of being a landlord. You just need to let a property management company handle the dirty work.
Here are five of the worst things about being a landlord and how a property management company can help: