Nothing is more beneficial to your long term financial health than the right rental property. Sure, quick flips and rehabs are great for the short term but a strategic acquisition of a rental property can completely change your portfolio. Not only are they a source for surplus monthly cash flow, but they also build equity for the future which you can use can use as a means to purchase additional properties. It is not hyperbole to say that all it takes is one key rental property to get your portfolio headed in the right direction. Here are five steps to purchase your first rental property.
If you run your rental properly and follow through with your long term vision you will reap the benefits down the road. Once you acquire your first rental you will quickly want to add another.