Owning a single investment property is a great start to obtaining financial freedom. However, it's just that—a start. You'll need to acquire a second, third, fourth, and beyond properties to turn your part-time hustle into a full-time income.
Inflation likely comes to your mind every now and then. You probably think about it whenever you get a raise (or ask for one), do your budgeting, or decide where to invest your money.
On May 3, Denver passed a new bill requiring landlords to have a license to rent out their properties. Short-term rental property owners already faced a similar law in Denver, but now this new law expands to cover all landlords in the city.
The short-term rental space has exploded in recent years. And it’s not surprising given the stories of how much some short-term rentals can earn. While short-term rentals are certainly great for some people, they are not for everyone.
Property protection should be non-negotiable—no landlord should risk going without it. Just like you wouldn't (or shouldn't) drive a car around without insurance, you don't want to rent out your property without the proper asset protection.
Finding the right price for your rental can be tricky. Price it too low, and you'll miss out on income (and your property might be perceived as "cheap"). Price it too high, and you may scare off potential tenants and face higher vacancy rates.
Looking to lease your rental property? Whether you're brand-new to the real estate world or have been around the block a couple of times, you likely know the first major decision you'll need to make is—do you self-manage or hire a property manager?
Prices matter, especially when it comes to real estate. Just think about how much time you spend at the grocery store debating between name brand and off-brand products—and that's just to save you a couple of cents.