Question

How can I begin building a portfolio of rental properties?

Answer 1

1) Buy properties. 2) Let them . 3) Profit!

Answer 2

The very first thing you should do is think carefully. We have had a property bubble which may easily burst. If you are worried try to buy at a discount.

Answer 3

The best way to start is with your own home. Buy a house or multi-family property, live in it first then buy another property but do not sell the first one. Rent the first property and borrow against it to buy the next property that you want to live in. Do not flip properties. Long term appreciation is where wealth is created. Keep 10 properties for 10 years and you'll be financially secure.

Answer 4

If you have any construction skills, electrician, plumber, I'd suggest taking on a "fixer-upper." As always learn your market. What would the future tenant want to see in this space? How much would they pay per month? Will that be enough to cover interest and mortgage payments?