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21 Sep

Could You Be a Landlord?


Posted by: Angela Lavender

Sure, the extra income would be great. But jumping blindly into owning a rental property could be disastrous. Here’s what you need to know

 April 22, 2013

With real estate prices and interest rates still low, this could be a good time to buy a rental property. Being a landlord is not only for people who can afford to own large apartment complexes. Moving into a duplex or a property with several small cottages can be a smart way to house yourself and save for the future.

If (and it’s a big if) you are able to find a property where your overall mortgage payment is within reach even without the income from renters, you can plan on stashing away that rental income — potentially saving a good deal more each year than you otherwise would be able to. Of course, property managing is not without its hassles, and it’s not for everyone. If you are curious about what it takes to be a successful landlord, this ideabook is for you.