According to the Dave Ramsey show, it’s good to buy a home with cash and not keep a property that has debt on it. He says that you should not become a landlord by default but, pick a good property that will give you good returns after investing in it. Purchasing a rental property can be a very profitable investment but needs good planning. You need to invest in cash and not keep a rental property with debts.
Most investors who are beginners in real estate may fail within the first five years.
However, getting the finest rental properties in terms of profits on investments makes one generate good money. Below are stress-free ways to find yourself the very best rental properties.
Research on the location, understanding of market conditions, target tenants, and availability of amenities like schools and hospitals.Know your cash flow before deciding to purchase a rental property- make sure that all the expenses are factored in. Use a real estate agent- they are experienced at working with rental property investors.