Owning real estate is fun and lucrative. It has allowed for great freedom and the creation of wealth. Taking care of your assests that you aquire does take some effort.
If you buy real estate that is out of state, budget your money so that you can go see your house the first year you own it. Visiting your property does not have to be a major expense. You may need to catch a flight in the morning and out that evening or simply stay over one night. Get to know your property and your manager. As well as knowing your manager, get the phone number of the tenant.
Stay aware of what is happening with your property. Keep in touch with your property manager and set expectations.
Owning real estate is fun and lucrative. It has allowed for great freedom and the creation of wealth. Taking care of your assests that you aquire does take some effort.
If you buy real estate that is out of state, budget your money so that you can go see your house the first year you own it. Visiting your property does not have to be a major expense. You may need to catch a flight in the morning and out that evening or simply stay over one night. Get to know your property and your manager. As well as knowing your manager, get the phone number of the tenant.
Stay aware of what is happening with your property. Keep in touch with your property manager and set expectations.
Best of Luck.
Roy Voeks
Official RE Coach