Should I Buy a Rental Property?

Assessing if becoming a landlord and investing in rental property is right for you.

1. How much capital do you have available for a down payment and reserves?

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2. Do you fully understand the responsibilities and time commitment of being a landlord?

3. Have you realistically calculated potential cash flow, expenses, and ROI?

4. How do you plan to manage the property (self-manage or hire a manager)?

5. How strong is the rental demand in the specific area you're considering?

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6. Are you familiar with local landlord-tenant laws and regulations?

7. What is your budget for ongoing maintenance and unexpected repairs?

8. What is your process for screening potential tenants?

9. Have you accounted for potential vacancy periods between tenants?

10. What is your long-term investment strategy or exit plan for the property?