Getting into your first rental house, as a landlord, is a big step...there're lots of people out there who make money with rentals, and as many (if not more) who found it a nightmare... You need to ask why the "professionals"--people in real estate for a living--haven't snapped up all these good ?? deals... rhouston is right on about renters often being a pig in a poke...you'd need to set up your purchase so you could walk away from it cost-free (no deficiency) if you couldn't get renters and couldn't carry the payments yourself...you need to be able to do most repairs yourself, to keep down expenses...do some research on being a landlord (forewarned is forearmed). If you've been influenced by any real estate ads or real estate people saying "... now's the time to get in on the ground floor..." don't forget they're not really unbiased observers... This's not meant to be dismissive-it really may be a good opportunity in your area-just a heads-up to do your homework first. (My parents had a rental) Good luck.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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