What to Consider Before Becoming a Landlord

Sign that says Apartment f or Rent in Yard

Michele Lerner’s recent article in The Washington Post includes several factors to consider before purchasing your first real estate investment.

If you’re considering making your first real estate investment and planning on becoming a landlord, it’s important to educate yourself and generate a strategy before you take action.

Michele Lerner’s article in The Washington Post provides helpful information as a starting point.

3 Things to Consider Before Becoming a Landlord

1. Long-distance investing may work for some.

Some investors look to other housing markets to invest because – among other reasons – they’re priced out of their own market or believe they can receive a better return investing elsewhere. Real estate agents located in the area you’re considering can be a valuable resource.

2. Do a cost-benefit analysis.

If you seek financing for the investment, it’s important to understand options and conditions for financing investment properties, which may be different than financing owner-occupied real estate purchases.

3. Don’t want to be a landlord? There are options.

If you end up with a long-distance investment or just want to be less involved with landlord duties, you might want to consider hiring a property management company.

Typically, these companies charge about 8 percent of the rent for their services, according to the article.

Learn more about real estate investing

Download your free guide to read about more considerations – including potential pitfalls and expenses involved in real estate investing.

Real Estate

7 Strategies to Increase ROI on Keeper Properties by Reducing Vacancy

Real Estate

What to Consider Before Becoming a Landlord

3 Things to Consider Before Becoming a Landlord

1. Long-distance investing may work for some.

2. Do a cost-benefit analysis.

3. Don’t want to be a landlord? There are options.

Learn more about real estate investing

7 Strategies to Increase ROI on Keeper Properties by Reducing Vacancy

Little-Known Funding Source for Real Estate Investments

Have Questions?

What to Consider Before Becoming a Landlord

3 Things to Consider Before Becoming a Landlord

1. Long-distance investing may work for some.

2. Do a cost-benefit analysis.

3. Don’t want to be a landlord? There are options.

Learn more about real estate investing

7 Strategies to Increase ROI on Keeper Properties by Reducing Vacancy

Little-Known Funding Source for Real Estate Investments

Join over 100,000 subscribers who receive investing and wealth-building news and education in their inbox.

Have Questions?