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Reply to "I am considering buying a rental property. Talk me out of it."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I own some rental properties and one major con is is large unexpected bills for things that break, or just wear out over time, surprise tax bills, vacancies, etc. So make sure you have a large cash reserve to spare. Another is the time spent on it, even if you have professional management. The big pro is the opportunity for returns far greater than index funds. The Bigger Pockets website and podcast is a good way to start educating yourself.[/quote] Totally agree. I am a stay-at-home-mom/real estate investor. It does take some time, even with management, but you can get great returns. Keeps me from having to do a 9-5 job, though. Start with Bigger Pockets and educate yourself,fine what areas you want to invest (Baltimore might have better deals than DC but you just have to do your research). It's great! Good luck! [/quote] How do you find contractors to work with? Do you use a lawyer or accountant?[/quote]
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