Once you’ve determined that an investment home fits your financial goals, it’s time to decide whether or not you’re willing to deal with the responsibilities of being a landlord. There may be 3 . phone calls to answer, late rents to collect, unsatisfactory tenants to evict, repairs and maintenance to attend to, paperwork to be updated, income and/or deductions to be claimed, taxes to be paid, and various new laws to obey. It’s a major commitment, but keep in mind that you can always hire professionals to take care of many day-to-day responsibilities. There’ll be more about property managers later in this guide. Whether you.
