How to Build A Rental Property Money Machine

If you are looking for a steady, income-producing investment that isn't dependent on the ups and downs of the stock market, rental property is just the investment you're looking for!

As lucrative as owning rental property can be, the wrong property can be a bottomless money pit. You need to know how to go about locating property, finding tenants, managing the rental, and how to make your investment profitable. Many first-time landlords learn lessons the hard way. They end up spending thousands of dollars on repairs, chasing after tenants for rents, and are constantly being called up in the middle of the night to take care of minor repairs such as burned out light bulbs. If this sounds like you, instead of throwing in the towel, learn from your mistakes. For some investors, it may be as simple as starting to treat their rentals as a business.

The right way

Start fresh from the beginning. Utilize a return-on-investment (ROI) formula in order to determine what you need to charge for rent in order to have a positive ROI. If the market in your area cannot bear the amount of rental income needed, you may want to consider selling that property. Also, learn the value of proper tenant selection and a solid lease agreement. Using these two approaches will make being a landlord a pleasant and profitable experience.

Locate properties effectively

Every single residential property is a potential investment winner and no property should be discounted without consideration. Hone your search by spotting the "dynamic" properties among the "duds."

Strategy: Look for properties in local neighborhoods where home prices are stable and appreciating. Stable and appreciating neighborhoods ensure the preservation of your investment and can provide additional return-on-investment through appreciation of your property.

Strategy: Look specifically at middle to low end of the price range in neighborhoods. It is there that you will find more room for appreciation of property values.

Do the math before you buy

Once you have zeroed in on a prospective rental property, run your numbers through your Russ Whitney Real Estate Success Software or use the following return-on-investment (ROI) formulas to determine whether to make a purchase offer or to move on to the next property.

Russ Whitney - Real Estate Millionaire, best-selling author and CEO of Whitney Information Network, Inc. Russ Whitney is a hard-driving, intense achiever and leader who never slows his tireless pace. From running a multi-million dollar educational company to spending time with his family Russ Whitney is the picture and embodiment of success of the American Dream.

http://www.russwhitney.com

In The News:

pen paper and inkwell


cat break through


What Makes Fractional Shares Different from Owning Other Kinds of Vacation Properties?

Fractional shares ("fractionals") are sometimes confused with other vacation property... Read More

Real Estate Investing and Home Ownership

If you already own your home, you will probably make... Read More

Buying New Construction...How Do I Begin?

The prospect of shopping for a new construction residence can... Read More

How to Sell Your House For Full Price

Many people believe that a real estate broker is needed... Read More

Understanding Real Estate Terminology

Purchasing a home can be a complicated and confusing process,... Read More

Lease Options or Rent to Own?

Finding a rent-to-own house is one of the many ways... Read More

Real Estate Problem Solver

IntroductionThere are many areas one can invest in. Since I... Read More

Selling A Home ? What Attachments Stay or Go?

The home selling and buying process can be confusing. This... Read More

10 Ways To Find Investment Properties

If you really want the best deals in investment properties,... Read More

Property Investing Secrets 2

Property Investing Secrets:How You Can Turn A Below Average Deal... Read More

Property Investing Secrets 7

Property Investing Secrets:How Buying Real Estate Is Like Planning a... Read More

For Sale in Ridgefield

Ridgefield Connecticut, located near the New York border, is a... Read More

How to Price Your Property?

A house properly priced is half sold. But there are... Read More

Equity

Equity is the value of your home minus what you... Read More

Real Estate Investing Is A Better Gamble Than The Lottery

Real estate investing begins when you move to the starting... Read More

Property Investing - Am I Buying for Profit or Prestige?

All of us have emotional preconceptions and assumptions. They are... Read More

Real Estate Investing in Rentals ? the $10 Million Real Estate Investing Mistake

Renting to tenants is no longer "where the money is"... Read More

How to Make Money in Real Estate Without Doing the Scrunch Work

If you don't have the time to invest working on... Read More

How to Show & Sell Your California Home

Seller's Showing Instructions1. When the agent arrives with the potential... Read More

The Psyche of The Seller and The Tenant Buyer

For those of you who were not psychology majors the... Read More

Making Money In Real Estate - 10 Ways

Making money in real estate is an endless topic that... Read More

Think You Can?t Afford Your Own Home, Think Again!

Do you have bad credit, no credit, filed a bankruptcy,... Read More

Selling Your Home Yourself ? Pricing It Appropriately

When you're selling your own property, whether it's a house,... Read More

Real Estate Investing Works In Your Area Too!

I hope you had a spectacular weekend!Things have been going... Read More

A Beginners Guide to Flipping Houses

If you're dreaming of making money in real estate, it's... Read More

Kings Bay Georgia Real Estate - An Amusing Tale About a Real Estate Agent

This story is true and not meant to hurt anyone,... Read More

Empty Nesters Flock To Inner City

Babyboomers whose children have left home, commonly known as "empty-nesters"... Read More

Using Transformation Psychology to Sell Investment Properties

Satisfying and lucrative real estate investment depends upon your correct... Read More

Investing In Land

Changing social trends point to a huge rise in demand... Read More

Using The Internet In Your Lease Purchase Business

First you need to find a list of For Sale... Read More

How To Spot A Good Buy

Beauty is in the eye of the beholder, particularly when... Read More

Choosing a Residential Lot

Finding a lotPlanning for your new home is a very... Read More

Home Owners: Disclose the Facts!

One of the most common causes for disputes occurring after... Read More