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Make sure to hire a knowledgeable real estate professional who has first-hand knowledge and information about the neighborhood in which your property located. Having information about the local community and real estate market is of paramount importance when marketing your home to an audience of prospective buyers.
Get in touch with a lender, bank or mortgage broker to help understand how much house you can comfortably afford. No one wants to be “house poor”. As a general rule of thumb, spend no more than 30% of your income on housing expenses.
A good property manager does a lot more than collect rent! Find a property manager that will be proactive in protecting and preserving the appearance, condition and value of your investment so it grows in value over time. A property that is not properly maintained can easily lose value.
Hire a leasing agent to find and place a qualified tenant to help avoid problems like evection, which can cost the landlord lots of time and money.
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