Our House Offer Was Accepted! Let the Rental Games Begin!

Bought a Rental House with Cash

Have you ever thought about getting into the rental game? Personally, I’ve been enamored with the idea since I was 16 years old. And now, 14 years later, it looks like I’ll finally be throwing my hat into the passive income rental ring! YIPPEE! Watch out Monopoly man, you may be getting dethroned! Now where did I put my monocle…?

Leading Up to the Purchase

So how did Liz and I find our investment property? Let me tell you, it wasn’t easy. Prior to this property, we scoured the entire area (for the entire summer) for anything that was for sale under $95,000. We walked through about 10 properties – four of those we simply walked away (for various reasons), and the other six we were outbid on by typically more than $10,000. We wanted to find an absolute deal, not pay retail price for a home.

There was one . . . → Read More: Our House Offer Was Accepted! Let the Rental Games Begin!

What You Should Know Before Buying a Rental Property

buy a home on a low income

Have you ever thought about buying a rental property to earn some passive income? As I pay off my home mortgage, I am getting closer and closer to scouting out my first rental property (I have been waiting a long time for this!), which has prompted me to start looking at available properties and calculate their potential. Since I have not yet gotten rid of my debts (and I would really like to buy my first rental property with cash), I won’t be buying a rental house yet, but I need to get used to analyzing and understanding which houses will be cash flow positive and which ones are dives when it comes to investments. If you are interested in real estate, you need to be able to calculate your potential earnings before buying a rental property.

Potential Rental Property Expenses

Expenses in real estate are more than . . . → Read More: What You Should Know Before Buying a Rental Property

Make More Money with a Rental Property

advantages of renting

Have you ever wondered how you can make more money than you do right now? Some of you want to make quick money because of a recent emergency. If that’s the case, I would recommend reading my book, “101 Ways to Make More Money“. If, however, you are looking to increase your income and cash flow for the long term, then perhaps real estate investing is for you. Once you learn the basics, you can certainly make more money with a rental property.

Think Like a Renter

If you weren’t in a position to buy a house and had to rent, what would you be looking for? You most likely wouldn’t be looking to stay in a rental for decades to come, but you still want to live in a safe area for a reasonable price. In order to purchase a property that will be in . . . → Read More: Make More Money with a Rental Property

Flip Houses or Rent Real Estate?

Have you ever thought about making money in real estate? I know I have. The only question is, will you make your money by flipping houses (buying them, fixing them up and selling them, and then repeating the process), or will you make your money by purchasing rental properties?

Flipping Houses

Just recently, my wife and I purchased our first home together — a fixer-upper foreclosure. For the past 2 months, we’ve been gutting rooms and rebuilding them to perfection. What was once ugly laminate squares is now beautiful tile; The old scuffed up hardwood is now a deep, rich brown color; and the walls with ugly wallpaper have been scraped and replaced with a shimmering coat of fresh paint.

Our house is beginning to look 10 times better than when we first walked through it and it makes me wonder how much money we could make if . . . → Read More: Flip Houses or Rent Real Estate?

Generating Cash Flow With Your Investment Property

This is a guest post written by William from Australia

With interest rates on the rise, cash flow is an issue of major importance. Luckily, you can put your investment into properties that will give you a cash flow that is positive.

How to find properties with a positive cash flow

The best thing that you can look for is a suburb that has a rental yield of approximately 5% and a 5 year projected yearly capital growth of 5%. There should a proportion of at least 10% rentals to 90% ownership, and the suburb should be active with many property sales occurring. There will be a lot of areas to choose from at this point, so it needs to be narrowed down even further. The next thing that needs to be done is an analysis of the capital growth of each area. These should be ranked from highest to . . . → Read More: Generating Cash Flow With Your Investment Property