If you are reading this you probably have already read the previous blog post, 3 Things to Consider Before Buying Your First Rental Property. If you have not I would recommend skipping this post and then reading the previous post first. We will continue to talk about the aspects you should think about before first buying a rental property. I will walk you through an additional 3 things you NEED to think about before jumping the gun on your purchase.
1.) Rental Property Expenses
Rental property expenses is an essential element to consider when buying a property. Some states have higher property taxes then others which can be a deal breaker on whether or not a purchase is a good one. Think about speaking with a tax specialist before making…
Thinking of a way to make passive income for your future? You've come to the right place! Rental properties are one of the top ways real estate investors create wealth and have the freedom to do the things they enjoy. Owning rental properties can seem like a difficult task at hand, especially for beginners in the business. Here are some ways to get started.
1.) Get Rid of Personal Debt!
One of the best things to do before purchasing your first rental property is to pay down personal debt. Personal debt includes anything from school loans, car loans, credit cards, etc. The key to a good start is a great foundation which is why the less bills the better! The more money you have to play with, the farther your money will go. During this time you…
