For those people who buy their first rental property, it is about increasing the value of the property while collecting rent. Therefore, you are building equity in the home while collecting profit from the tenants. This is a great tool in where you can build some wealth. However, maintenance of a home, is a lot of work and can lead to some very costly issues. Therefore, you must be smart when looking to increase the value.
- For the people who own rental homes, they have a great investment vehicle on their hands.
- Building equity in a property while collecting rent is a dream for some people!
- While maintenance of a house is essential, you must be smart to lower costs on the work.
“You may not have the budget for extensive landscaping work, and that’s ok. Just upgrade whatever you can so that your lawn looks tidy and presentable. Trim overgrown bushes and shrubs. Remove fallen leaves, sticks or anything that might make your lawn look cluttered.”