10-05-2013, 10:13 PM
I've owned a rental in the past. I guess I was lucky, though I did a background/reference check on every renter. Also, I checked on the house at least once a month. You need to be able to do most repairs yourself. I wouldn't do electric or plumbing work, but all else I would do to save money. Sold it shortly after my daughter was born since I didn't want to put time into it anymore and used the proceeds to pay for a prepaid college fund for her. A rental can be more profitable than a REIT because of leverage. Though the extra work and effort might make the REIT a better investment.
If I was single, I would own at least 1 rental. Possibly, I would own either a duplex or fourplex live in one and rent the rest.
If I was single, I would own at least 1 rental. Possibly, I would own either a duplex or fourplex live in one and rent the rest.