Tips for Owning a Long Term Real Estate Investment
By Gloria Johnpierre, Real Estate Broker- Selling Tampa Bay Homes
(Siven Premier Real Estate, Inc)
Understand What It Means to Be a Landlord Investing in real estate provides three different ways to obtain a return on an investment. A return could be realized from the sale of a property, through rent collection, and through tax savings on items such as the mortgage interest. When looking to purchase a rental property, the ultimate goal is to ensure that the rental income covers the monthly mortgage, maintenance expenses, HOA fees, insurance, etc. Secure a Rental Property in an Area with Strong Rental Demand Communities near universities, hospitals, or schools typically generate a strong rental demand. Condominiums and townhome communities where the Home Owner Association (HOA) maintains much of the exterior are also popular. Please be sure to determine the rental restrictions of the...
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