How Investors Can Identify a Great Rental Property

The decision to become a landlord is certainly exciting – the search for a property, marketing for a tenant and potential to bring in money every month.

But before you go buying the first empty house you see – or worse, a house you didn’t even look at – know that your investment is better made when you’ve carefully run the numbers.

Even when you’re just renting out a single-family home or duplex, real estate investment isn’t as easy as it may seem. A smart investment requires a look at market rents, a calculation of income potential and consideration of additional costs to both prepare a property to rent and make long-term repairs.

That’s not to mention factoring in costs you would have to absorb if the property sat vacant for any period of time. Bryan M. Chavis, a property management consultant and author of “The Landlord Entrepreneur: Double Your Profits With Real Estate Property...

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