Investment properties

[mrbigstuff]

What advice would those of you who have invested in a residential property offer for advice in terms of financing. Down payments, loans, etc.

Not to take away from your tales of woe about tenants, maintenance, etc. but feel free to pontificate!

[Buzz]

Make sure it's less than an hour's drive away, and if it's more than few minutes away, make sure you get to know the neighbors that can reach you in an emergency.
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[clay]

well, we just sold a rental property after owning for about 7 years. Made a lot of sense to "get out" now given the housing market in our area. At one point in the past, it felt wise to have a rental (as an investment), but over time, life changed to the point that it no longer made sense for us to have the hassle of a single property. If we would have been "all in", we would have bought a handful more properties and made a business of it over time. But as it stood, that approach wasn't all that appealing given the stage of life we're in.

I guess the appeal is that in many areas, owning rental properties is a less volatile investment than many others. But I feel like there is still inherent risk in owning and operating properties that some people overlook.

If you can find a property that cashflows well for you and can get a good rate on a loan, go for it!

[mikebw]

I believe there are opportunities where a company will manage funds from a group of investors across multiple properties to limit the risk.

[Bill in NC]

mrbigstuff wrote:
What advice would those of you who have invested in a residential property offer for advice in terms of financing. Down payments, loans, etc.

Not to take away from your tales of woe about tenants, maintenance, etc. but feel free to pontificate!

Directly held residential real estate?

It's a second job.

It's also riskier than before given the recent history of 18+ month rent moratoriums.

[Paul F.]

Bill in NC wrote:
[quote=mrbigstuff]
What advice would those of you who have invested in a residential property offer for advice in terms of financing. Down payments, loans, etc.

Not to take away from your tales of woe about tenants, maintenance, etc. but feel free to pontificate!

Directly held residential real estate?

It's a second job.

It's also riskier than before given the recent history of 18+ month rent moratoriums.

And, the number of people who are unabashedly pushing "Rent caps" and "rent freezes" for "evil landlords".
I'd think very carefully before buying a rental property in this (historic high priced) market... Not saying "don't", but, I'd be very, very, wary.