Sit down with a sheet of paper and write out all your thoughts regarding an investment property. Then try grouping these thoughts into categories. You will start to see a pattern forming. Then ask yourself if you are buying for cash flow? Do you want the property to provide a profit or a loss? Which benefits your tax bracket?
How will you address any maintenance or repair issues that arise? How will you find and screen your tenants? Do you want to structure the investment property to meet Section 8 requirements? How will you collect the rents? Are you familiar with the Florida eviction process? What are tenant rights vs landlord rights?
As mentioned buying is easy. Then you have to work your plan. Do you have a plan?
Brock Realty Inc.
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Broker, Lightning Realty
Phone/Text: (813) 766-1501