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3 Things Must Know Before You Buy a Rental Property

When observing for rental property find out how much rent is reasonable to assume given the location and quality of the property. You must consider the expenses you will deserve as a property owner. https://www.circlapp.com/instant-messaging

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3 Things Must Know Before You Buy a Rental Property

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  1. 3 Things Must Know Before You Buy A Rental Property Before you buy rental property, consider three things: The expected amount of rental income. The annual expenses you will deserve. And the risks that may come along. www.circlapp.com

  2. 1. Estimated amount of rental property income: • When observing for rental property find out how much rent is reasonable to assume given the location and quality of the property. • You must consider the expenses you will deserve as a property owner.

  3. 2. Annual expenses of having rental property: You can break property expenses into both fixed and flexible expenses. • Fixed Expenses - You will have recurring expenses such as annual property taxes, insurance, routine maintenance and repair items, and the cost of any property management services. • Flexible Expenses - Remember to set apart funds for major unplanned expenses such as replacing the water heater, air conditioner or heater, roof, fencing, flooring or plumbing.

  4. 3. Risks of buying rental property: Before you buy rental property, consider the following risks: • Your property could be seated empty between renters, take down your overall return. You could sustain legal expenses should you need to kick out a bad tenant. • You could sustain extra repair costs should a bad tenant cause damage to the property. • Rental property can provide a established source of income, but like any investment, you need to understand what you are getting into before you buy.

  5. Additional resources on rental property: • If you are considering investment property, Iwould highly recommend you visit CIRCLAPP website for Rental Property. • Unlike many of the popular websites on rental real estate investing. Instead, in a very practical way he spells out exactly what it takes to have success when investing in real estate.

  6. Contact us Suite 703, 481 university avenue Toronto, ON, M5G 2E9 Phone no.: 1-800-707-8154 Email id:  support@circlapp.com @meetcirclapp www.facebook.com/meetcirclapp www.youtube.com/meetcirclapp https://www.circlapp.com/instant-messaging

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