residential real eastate

REAL ESTATE Q & A: What Should I Know About Owning Investment Property? – By Ron Brookshire

Q.  What should I know about owning investment property? A.  You can make a successful investment by avoiding these mistakes: Being an absentee owner. Visit the property often and talk to your tenants to get feedback. If you bought a house as a “passive” investment, you may want to hire a property management company. Not having adequate insurance. Work with an insurance professional who will see that you are covered. Not charging fair rent. A REALTOR® who is an Investor Specialist can help you decide what is reasonable for the property. Selecting unreliable tenants. Check all references and credit histories.…