Investing In Rental Property
Depending on when you bought a rental property & and how much you bought it for, (if you did it right,) most likely you’re feeling the ongoing delight of the investment. When successfully executed, landlords experience an annual positive cash flow, a yearly tax benefit, and owe less to the bank.
If you do it right, being a landlord is rewarding in many ways. But I caution would-be landlords about making rash buying decisions, there are some mistakes that are disastrous for real estate investors that should be avoided at all cost.
Unless you have a ton of money, there’re a couple rules that must be followed when investing in rental property. 1st -The deal has to pencil out (if it costs too much & you can’t make a 7% profit on your initial investment) “you can’t buy it. After rule #1, you need to make sure “in terms” of the condition of the investment property, & the location of the investment property, they both need to meet certain expectations, if not; “you can’t buy it! You have to be firm on all three points if you want your investment to bring you annual delight and prosperity!
I wanted to be a landlord! In the early- 90s, I leaped into the rental market; I invested in one rental property at a time, and over the years I’ve managed to stay firm when it comes to investment rental properties. I’ve been able to grow my business by investing my money right, and thinking more in the long term, versus the short term. Unless you are mega rich and don’t care if the investment loses money, you have to be firm investing money in rental property. All it takes is a firm stance of a few sticking points, & the willingness to put forth the time and effort required to have happy long term paying tenants!
Only the mega rich can afford to invest in rental properties that lose money. Bottom line is there’re some properties that never make money “just as” there are some properties that are well-located that bring a positive cash flow. It’s all about doing a thorough analysis of the property’s cash flow before you invest your hard earned money in rental property!
As you contemplate your next move, remember that owning rental properties can and is a prosperous long term investment. With the willingness to invest wisely, a bit of desire, knowhow and time – becoming a landlord is a profitable plan & works out better than expected.
5325 E 2nd St #206, Long Beach, CA 90803
License: 01311273 Phone: 562-225-2296 | Fax: 562-439-0511
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