Investing in a rental property?
With rents high across the nation, becoming a landlord can be a great financial decision. However, buying a home to rent comes with a few differences from purchasing a primary residence:
Financing is a little different: you’ll need slightly higher down payments and a higher credit score to qualify.
Property managers: if you’re not managing the house yourself, you’ll need a property manager. Be sure to include those fees in your financial calculations!
Tracking income and expenses: there can be a lot of moving pieces when you first rent out a home. Be sure to carefully track your repair costs, deposits, fees, insurance, and all other transactions to have a clear picture of your finances!
If you’re ready to take the plunge into investment properties, give me a call! A real estate pro can help guide you through all the ins and outs.
from Utah Homes and Land For Sale