Buying an investment property while still in your 20s, 30s and even 40s is one of the best things you can do for your retirement. However, novice investors often fail to see the benefit of buying a property they will not live in and cannot maintain. Today we talk about investment properties and how to get over the fear of purchasing one.
- An investment property is a business, it is not your home.
- If you are constantly concerned tenants will scratch the stairs or punch too many nails in the walls to hang pictures, then you have not made this mind shift. Savvy investors know that cosmetic issues can be fixed in a jiffy and often inexpensively. Additionally, when tenants feel more at home they tend to stay longer.
- A rental agent is key to a successful investment.
- Novice investors try to save by cutting out the rental agent. Rental agreements can be tricky and costly to draft. Moreover, dealing with tenants is not a walk in the park. For a small percentage, rental agents will collect rent, deal with maintenance issues and quotes, and most important, make sure your property constantly has a paying tenant. If the property is not being rented, they will advertise and show the property for you because they only earn when you do.
- SA Property is the best place to look for that first (or next) investment property. Browse our listings and contact us today for information on purchasing a property from our site.