Tuesday, February 10, 2009

Real Estate Investing with Rental Properties

Real Estate Investing For Profit - Rental Properties For a Monthly Paycheck
By Serena Lewis

Investing in rental properties can be very profitable and provide you with a steady income. As the housing loan market gets tougher, more and more people are turning to renting instead of owning.

For a person who has access to the funds to buy a rental property this is tried and true way to make good money in the real estate world. Running a rental property may not be for everybody, but for those that own them, they tend to be a very profitable source of steady income.

Some of the things to consider when thinking about going into the rental property business include, can you afford to have your invested money tied up for a number of years, are you prepared to have complete strangers living in your rental and are you prepared to do the work it takes to maintain a rental?

Let's take a look at each of these statements, first buying a rental property means that you are investing for the long run, in other words you will not see and immediate profit as you would from the sale of a house. For most rental owners this not a problem, in fact it is the reason that most of them go into the rental business in the first place. Once you have paid the purchase price of your house off, then the money you have coming in is mostly profit with the exception of yearly taxes and repairs.

Second you must have access to enough funding to pay for any repairs that may come along during the year, some of them will be minor like leaky faucets, other may mean large financial outlays like replacing the roof. Having to borrow money tends to cut into your profit margin rather heavily. Many landlords save money by doing most of the repairs themselves, the only problem with this is you have to be prepared for those two am phone calls.

Lastly you have to be a good judge of character when it comes to finding a tenant; this can be a very difficult thing to do. Picking the tenant who will take care of your house as if it were their own is not an easy task. Many landlords turn to a rental property management company to avoid dealing with this part. Using a rental agency can give a landlord peace of mind, as the agency takes full responsibility for the tenant should anything happen to the house.

Running rental properties can be a very financially rewarding experience for a person who is looking to make money in the real estate business, the payoff is not instant but rather over an extended period of time. It will provide for a steady return on your investment as long as you manage your rentals properly, keeping them in good shape and rented out.

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Article Source: http://EzineArticles.com/?expert=Serena_Lewis
http://EzineArticles.com/?Real-Estate-Investing-For-Profit---Rental-Properties-For-a-Monthly-Paycheck&id=1963454

Real Estate Investing

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2 Comments:

Blogger Costa Rica said...

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10:42 AM  
Blogger adrin said...

This supposed to be a great idea to invest in rental properties.

Boise real estate

3:00 AM  

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