Am I going to be dealing with a lot of maintenance issues and people not paying rent? Or is it a good investment that could provide me with a lot of cash flow for the rest of my life. My idea is to start slowly buying properties one by one and renting them out with positive cash flow and give years for the properties to appreciate as well.
2006-10-29 11:46:17 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
It doesn't have to, but be ready for some complications. If you're thinking rental properties, then you will have some headaches until you learn the ropes and have all your building experts lined up and always on call (plumbers, electricians, etc.).
If you're looking at investing to flip, you should be careful as it appears that we're at a near term top of property values.
Real estate is a good investment because they're not making any more of it, but there is a lot of raw land in the US.
2006-10-29 11:53:21 · answer #1 · answered by ekcnho 2 · 0⤊ 0⤋
Its a great idea and good investment for the right property. There will always be maintenance issues...a mechanal engineer can look at it to give you an idea of future needs and costs. Talk to a lawyer about rental issues and advice. If you are going to be an investor you should always have a good lawyer to use for all future concerns as to their rights, your rights, whatever. Best to be informed and safe.
Stay on good terms with your tenants and don't even think of being a slum lord but don't make any deals with them until you consult with your lawyer. I've seen people in Housing Court over issues of that sort. Some landlords are high strung from operating on a shoestring and tend to get a little bent over dumb things.
Good luck.
2006-10-29 20:21:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Only if you are ready for the headaches of being a landlord. You'll have to deal with tennants who may run out, damage to the home and repairs.
If you are looking to invest in real estate and make money, consider doing fix and flips. It's a great way to make money and you don't have to hold on to all the properties
2006-10-29 19:54:58 · answer #3 · answered by Hot Pants 5 · 0⤊ 0⤋
It's both. It can be a really good investment and income, but it can be a full time job, too.
Get good advice on screening tenants and on your lease contracts. Learn how to read people; a bad tenant is worse than an empty unit.
2006-10-29 20:19:55 · answer #4 · answered by open4one 7 · 1⤊ 0⤋
You get what you pay for. You also get who you take the time to research and learn about. Nothing is free or everyone would do it.
2006-10-29 21:00:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋