Taking the Next Step to Owning a Rental Property

 
Important Tips for Purchasing a Rental Property

Hey, guys. Welcome back to my video blog.

For the past few videos we’ve been talking about rental properties: is owning a rental property right for you, which type of real estate is best for you, and whether you should use financing or cash to purchase your rental property.

To recap some important elements from our videos series, when you purchase an investment property, it’s important to know whether you want to manage the property yourself or hire a property manager.

Along with deciding which property is best for you, make sure you have a strong lease. Talk to a lawyer just to make sure everything is covered and secure. Leasing laws are different according to each state.

Screen your tenants as well. Do background checks, credit checks, etc. to protect yourself.

My final tip is to have a special savings account set aside for unexpected repairs or if the property sits vacant for a while. 

If you are interested in buying a rental property, please give me a call at 706.621.6085 so we can find the right investment property for you!