Real estate Investing

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As a beginner in this field. I am interested in what r the pros and cons of renting out property. Is there a demand for it in tourist areas? Or is there to much competition to make it worth wild. what r the up's and down's of being a landlord? Any response would be helpful.

Hello, the cons of renting are the obvious- what if it doesn't rent and what if it rents but they dont stay or what if it rents and they damage it. if it doesn't rent- why? Is the rent to high- is the area in a tourist area or a working class area? So you must know your area. You must know what kind of people live there-tourist or workers. You must know what the current rents are. Those are easy to look up and to ask the property management people for input. If they don't stay....is your rent to high? Did you have them sign a lease? Find an area that has a good amount of people that need to rent. Did you vet your tenants well? Vetting your tenants well is thee most important thing to me . Then get a signed lease. The down side is if something breaks....you need to fix it. To me that is the cost of doing business .Make them carry renters insurance . Have your property management people do a yearly walk thru to see the condition and make sure everything is kept up. The up is if there are no issues,you get paid every month. They pay the mortgage on your property.

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