I speak to dozens of area residents that say they’ve always thought about investing in a few rental properties, but they had no idea where to start and more importantly, they don’t want to make a mistake.
We all know that wealth is created every single day through the ownership of rental houses (or an apartment building) and fortunately, these days you don’t need much money for a down payment to get your first investment.
Some people have thought about picking up a couple of houses just to have the extra cash flow each month while the tenants pay off the mortgage for you. Others have goals of getting the home paid off with 100% of the rent money each month so that they’ll have a small real estate portfolio to hand down to their children. You may be interested in the tax benefits, the diversification or even the ability to finally have a REAL passive income.
The one recommendation I always give is to NEVER try to handle it yourself. This is true for the acquisition of the home, as well as the monthly management and rental collection. It’s incredibly cheap to have a professional handle all of this so that all you need to do is look in your bank account and see that the money was deposited every month. Management can be a mess unless you are a professional.
The one thing I hear over and over is “I’ve always had real estate investing in the back of my mind but I’ve never pulled the trigger”. They’ve considered this in their 20’s, in their 30’s and beyond, yet haven’t taken action yet. Heck, if they would’ve bought a couple of properties way back then with a very small down payment, they’d all be paid for by now and you’d have a net worth over a million dollars!
There are many factors that allow you to get into investing these days, you may want to do some research on it. Give me a quick call and let’s chat about ideas.