Should I Keep my Property as Rental? 3 Questions You Should be Considering

March 28, 2014 8:30 am0 commentsViews: 61

Many beginner or speculator-type real estate investors think that the crux of real estate investing is finding a distressed property, fixing it up, and selling for top profit. Keeping it as a rental ends up being a mistake, a backup plan, ora last resort for many people. But is keeping a property as a rental aways a bad thing?

Regardless of how you come about owning a piece of property, there are a few things to keep in mind when considering whether you should keep it as a rental or not…

There will be parts of your town that are known to be more desirable, are within a working class budget, and are close to important amenities like schools, grocery stores, and developed shopping centers.

Although there is the ongoing appeal and debate of buying cheap properties in war zones, the higher profit percentages may not be worth the management and maintenance headache for you. If you have no experience landlording, you typically want to avoid these areas all together.

1. Is it in a Good Area?
2. Is it a Cash Cow?
3. Would it be a Good Lease Option?

What do you think? What other criteria do you use when considering if a home is good to keep as a rental?

ByTracy Royce

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