Investing in rental property can be a rewarding and satisfying way of generating income and building a valuable retirement nest egg. At the same time, multi-family houses have long been a favorite means for home buyers to upgrade what they would otherwise be able to afford in a home. The team at Historical Homes has been in the landlord business for over thirty years and is able to help you make sound, informed decisions based on decades of first hand experience, should you decide to enhance your future financial security via rental property.
Before you start looking and after you have reviewed your financial qualifications with a reliable lender and have a clear idea of what you are able to purchase, pick a geographic radius around your place of residence which will permit you to access your new rental property in a comfortable amount of time. Little mishaps and emergencies do happen with rental property, and unless you have a resident manager to deal with them, you will be in your car on your way to stop a water leak or check a malfunctioning heating system. These things happen. Don’t invest in a property that is so far away as to require you to drive for two hours to get there.