How you can really be “passive” landlord — profiting without doing any back-breaking work, taking any late-night phone calls, or dealing with any nightmare tenants.
Buying real estate can be intimidating given its complexity, but when you have done your homework and do it well, it is also very rewarding. Fear not, the tips listed below can help you avoid this.
Research real estate properties well before buying them. When you are buying property to rent out, you should look at some certain things. The highest priority is sustainability. Is the property currently in a solid, clean, manageable state and will it continue to be without a lot of maintenance? The second thing to think about is where it is located. Yes, location is extremely important for most rental properties. It is important for you to ensure that the property is in close proximity to service providers and convenient for your tenants. The third is the average income of the area. This is different from physical location, because you should keep in mind that…
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