Who Doesn’t Want To Be The Landlord?

Who Doesn’t Want To Be The Landlord?




Investment properties in this day and age, are probably one of the best financial back up plans somebody can have. The economy is dropping along with people’s credit. Without credit people will not be able to get that loan for their home. So the majority of the time people will end up renting.

Now property management in itself is a stressful handful of a mess. When you are doing the property management yourself there are tons of things you have to worry about.



*Tenant selection

*Background checks

*Rent collection

*Maintence to the property

*Cleaning of the property

*Advertising the property

*Inspections

*Evictions (God Forbid)



But with the right property management team it can make it a whole lot easier. I mean, who wouldn’t want to sit back and watch the money roll in?



Buying the right investment property is an important issue that you will need to spend much thought on. You also want to make sure that the person you are buying it from isn’t hiding any “fine print” details about the property that you will have to deal with later on down the road. Ever bought a car and the dealer said “Sure it runs GREAT!” then you drive it out of the parking lot and it explodes?(Exaggerative I know)

Always do your homework and check your sources.



You also want to make sure that the location is ideal. The right house in the right location will do wonders, but the right house in the wrong location can turn into a money pit.



Multi family units are also a good idea. A 4 or 6 plex can sometimes bring in more revenue than a single family house. Think about it, if you have 6 tenants paying $450 a month, then your monthly income will be $2,700, compared to a four bedroom single family home going for $1,200 a month. So usually if you can get a multi family unit at a good price, TAKE IT! They will pay themselves off a whole lot quicker than a single family home.



Foreclosures are also a good idea, and with today’s market, they are all but scarce. You get a nice home for half of the actual value of the home, and then you can make your money back that much faster.



Any way you look at it, investment properties are a good idea. You will just need the right set of tools and information.



God Bless



For more information on investment properties, take a look at Killeen Real Estate