Investing in rental property
By Lori Lincoln And Associates, Top Agent Taunton,Dighton Rehoboth &more
(Top Agent Serving Dighton Taunton, Rehoboth and more!)
Are you thinking of becoming a Landlord? Long term, the benefits you can reap can be profitable. There are several great deals out there for multi-family properties. I am a Landlord and have made my share of mistakes, let me share some pointers with you:Before you decide to venture out and look at multi-family or single family properties, you must be pre-approved for a non-owner occupied mortgage if you do not plan to live in the property. Do your due dilegence and find out insurance rates tooWhen you narrow down your search, ask your Realtor to request copies or rent rolls, utility bills. Ideally, you want to have a positive cash flow. You can determine this by looking at your mortgage payment, taxes, insurance and all expenses, be sure to allocate some savings for repairs. Then add u...