Owning rental property is such a great investment because it is the only investment vehicle in which you do not have to put 100% down AND, once rented, you will have someone else paying your mortgage for you PLUS you can enjoy a monthly income from your property.
I suggest you read "The Million Dollar Real Estate Investor" by Gary Keller, as well as "Hold - How to Find, Buy and Rent Houses for Wealth" by Steve Chader et al. to help you plan and prepare for becoming a real estate investor.
Kathleen Turner, ABR, CRS, EPro, Certified Paralegal
The Kathleen Turner Realty Group
Keller Williams Realty
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These types of properties CAN be a very good investment, but also can be problematic. What you need is an objective agent with your best interests in mind whom also has experience in rentals in the area you are considering. You also should start by speaking with an experienced lender that will take the time to properly structure your financing to be appropriate for you now as well as your long term plans.
I am available to help you at your convenience if you wish.
I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage.
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Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist
Direct: 240-752-7549 Cell: 301-651-7822
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If you have more questions concerning real estate, feel free to email me at Juliusgreen@kw.com.