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Reply to "I am considering buying a rental property. Talk me out of it."
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[quote=Anonymous]Are you thinking of buying a commercial or residential rental property? I can't offer too much insight on commercial properties, but my husband and I each own residential condos that we rent out, and both of our tenants moved out at the end of this year. It took my husband several months to find a tenant for his property, and its been about a month and a half and I'm still looking for a tenant. They are both located in the North Bethesda area, and we are finding that there have been SO many new rental buildings built over the past few years and its my view that they are making it difficult for us to find tenants. Both of our previous tenants stayed for almost 5 years, and we found them in under a week, so we were super lucky then, but I'm worried that this could become a big problem if they sit empty for several months everytime we need to find a new tenant. [/quote]
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