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Becoming a rental property investor is a great way to generate extra income as well as build your nest egg or investment portfolio. However, the purchase of a rental property shouldn't be taken lightly as there are several factors to consider before you sign on the dotted line. Here are some things you should think about when searching for a property to invest in as well as some information on how working with a professional property manager can aid in optimizing your investment.
Consider Upgrades Needed to Make the Property a Desirable Rental
When searching for an investment property, one of the first things you want to evaluate is the condition of the property and any repairs that may be needed. Though a rental investment property will likely need some maintenance and upgrades, you should avoid purchasing one that needs a significant amount of work done and will require a lot of extra time and money to get it in good shape for the market. So, what is the ....