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The right way to buy a rental property

Rental PropertyIt is very possible to buy a relatively “safe” rental property that will all but guarantee you a steady income and help to make you wealthy in the long term. The keys to success are location, cost versus cash flow, and quality tenants.

Buying a rental property is the ultimate savings plan. You can buy the house and your tenants will pay it off for you over the life of the mortgage at effectively no cost to you. Fifteen to thirty years later, your house is paid off and has most likely appreciated significantly since you bought it. I like to say, “If I walked up to you today and told you “sign this paper and in 20 years I’ll give you a fully paid off house for free”, would you do it? Of course you would! Continue reading ‘The right way to buy a rental property’

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