Investing for Cash Flow
Buying and holding is great for long term cash flow, tax deductions, and retirement.
- Know what you can rent the property for, before you buy
- Set up your holding entity or LLC before purchasing the property
- Determine who will manage the property
- If you use a property manager, allow for that cost
- Have cash or financing already approved
- If financing don’t use short term financing for long term purchases
- Have plenty of reserves to cover carrying costs for
- Financing costs
- Repairs costs to rehab the property now and between renters
- Vacancies
- Insurance
- Consult your insurance professional
- For the best coverage
- For the best deductible- the lowest or highest deductible isn’t always the best
- Have a crew lined up to start repairs
- Estimate what it will cost to remodel and maintain the property
- Know how long it will take to remodel
- Inspect the home- see the inside
- Buy in areas that you know
- Partner with an experienced investor if you are inexperienced
- Work with experienced Real Estate Professional
- Consult your insurance professional
To start your portfolio of investment homes contact Carol at carollainhomes@gmail.com or 602-418-0310.
602.418.0310