Tuesday, March 1, 2016

Aspiring Real Estate Investors: Should You Rent or Sell Your Home

If you aspire to be a real estate investor, one of the best ways to start is to either rent your existing home or sell your home and use some of the proceeds to buy a rental property. "Starting small" like this allows you time to learn about the real estate market in your community or the community in which you want to invest. With the more properties you buy and with different types of properties or a wider geographic span, you will encounter more problems that can rapidly multiply if you do not know how to handle them. Starting small enables you to learn at a pace at which you can internalize what you learn.

snapshot of Legaltemplate website
Capture of the Legaltemplates' website.

One article resource to check out is "Should You Rent or Sell Your Home", available at https://legaltemplates.net/blog/rent-or-sell-your-home/ . This article discusses the pros and cons of both from different vantage points, including that of investment. If sell or rent is a question you've been mulling over, read this article to help you make the decision. In addition, I am quoted in it.

Here's an excerpt of that quote. This is relevant only if you DO decide to rent: "My philosophy is to screen well. Furthermore, I document everything and request the tenant’s signature whenever possible."

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