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Selling rental property
September 29th, 2009 by admin
When you are exploring rentals, you should consider your original purchase price and how much rent you would need to charge per unit to cover the monthly mortgage payments. Keep in mind that rental units also need repairs, especially if you plan on holding onto your investment for many years. Factor in property taxes too.
Even if you plan on holding onto your investment property for most of your life, you should research its possible resale value and the limited places where selling income property is practical. If you feel you can attract the right kind of tenants to your property and still make a profit after each mortgage payment, buying investment property in rentals might be the best option for you.
