LogFAQs > #945231747

Oh yeah a few agents buy to rent also. Talk with your bank. For a second property they typically want 20% down I think. Look online to see what houses you'd get in your budget based on what the bank will approve you for then rent at the going rate. If you charge more then look into hiring someone to do yard maintenance like cut the grass once every 3 or 4 weeks or get the tenant to do it and charge slightly less. Most people if just sticking with a single home will prefer the tenant to do yardwork or for legal reasons just pay someone. A tenant could come at you claiming they hurt themself doing yardwork.

I personally know a former co-worker who rents 4 or 5 homes and the tenants do all the yard stuff. He'll also buy them paint as a one time offer so they can paint the interior if they like otherwise he doesn't. To each their own <_<

My advice try to get a 30 year mortgage so monthly payments are low. You'd get cashflow from the tenant paying month to month (I don't use 1 year leases). After 4-5 years you could sell the house making about $100K to put into stocks. I might do a bit of that along with holding onto the house for 30 years so after mortgage free I'd make more money. Bungalow or duplexes work best cause having 2 good tenants paying for 1 property is a lot better.

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"If you know the enemy and know yourself, you need not fear the result of a hundred battles. - Sun Tzu