Owning your own property is very important these days because the world's population is rising at a fast pace and more and more land is demanded to patch up that population. The amount of land is depleting day by day, thus imposing a price rise of properties.
Before purchasing an investment property for rental purposes it's always a good idea to calculate whether it will be cash flow positive or cash flow negative. That is, will the property generate an income (positive) or will it require a monthly cash injection (negative)?
Most people make a living based on the work they produce or the services they render. When they stop working, they stop receiving this income. Passive income is earnings through assets where the owner is not actively involved. This is where your money works for you and that's the only way to achieve financial freedom.
Often investors want ways, other than standing at the court house steps and/or purchasing REOs, to flip homes for a larger profit. Finding a local wholesaler to work with is a great way to solve this problem.
Letting provides a regular guaranteed rental income and benefit from any rise in property any rise in property value....
Read on to find out why I absolutely love owning rental real estate properties and believe everyone should.
In just a blink of an eye, we're almost halfway through with 2020. Needless to say, the year so far has been quite the rollercoaster ride, but it has definitely taught everyone to always expect the unexpected and be ready for anything the world can throw at you.
My, how things have changed - quickly! If you're still investing, I'd love to hear how you're adjusting and what you see for the future. I'll start with some of the Covid changes we've already made.
Be approachable: Make sure that your tenants can contact you by phone or by e-mail if it is more convenient, should they need to. Responding to requests promptly will help tenants to feel listened to and supported.
If you are a real estate investor or buyer, you have two options when it comes to managing your property. You can either DIY (self-manage) the property yourself or appoint a third party professional (property manager) to look after the property for you.