Landlords, how did you get your first rental going, and how do you shop for a rental? How should I shop for my first one?
Are there any reasons to prefer “standalone” rentals, to something like a duplex where I can rent the other side? Ideally I’d like to find something where there is a main house, with a detached garage/shop I can live in, even if that needs work to be made into a 2nd unit. I just need a small space I can do my computer job from, and garage I can work on my classic car in.
I could probably just get myself one place, and then a separate rental unit, but I feel like for the first one it would be better if I could just have one mortgage, at least until I could easily afford both mortgages for a few months if I had a deadbeat tenant or big unexpected expense.
I’m really just looking for any advice about how to get started making money renting property. Use a property manager, or not? What market would you invest in if you could pick a market to move and buy into?
I will have up to 150k and not more than 200k to use as capital to get my own place, and a first rental, in some market more affordable than Seattle.
Submitted June 10, 2021 at 03:11AM by NerdyPaulBunyan https://ift.tt/3itZtX5
