Should Your First Rental Property Purchase Be A Condo Or A House?

NEED TO KNOW BASICS BEFORE BUYING A RENTAL PROPERTY   So you’re ready to buy your first rental property. Maybe you’ve heard about all the money you can make just by buying a property, finding a tenant, and letting the cash roll in. Perhaps your parents had rental property and you know the money that can be made. Or maybe you’d like to buy a house with a basement suite and have someone help pay your mortgage. All these are great reasons to consider owning rental property.   Where to Start?  Evaluate Your Current Living Situation   Where are you living right now? Are you happy where you’re currently living? Do you want to live in the same building as your tenant by having a basement suite or one side of a duplex to rent out or would you prefer to live in a dwelling away from your tenants? Do you own your home or are you renting? Are you living in a house or an apartment condo?  If you live in a house, what do you like about living in a house? If you’re living in an apartment condo, what is it about condo living that really appeals to […]

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