Long Term Rental Properties
If you invest in a rental property, be it a single family home, duplex, triplex ext, you become a landlord—so you need to consider if you'll be comfortable in that role. The investment from this will be in the form of rent and appreciation. How much rent you can charge will depend on the location. A common strategy is to charge enough rent to cover expenses until the mortgage has been paid, at which time the majority of the rent becomes profit. Landlords are responsible for things like paying the mortgage, property taxes, insurance, maintaining the property, finding tenants, and dealing with any problems. Being a landlord is a hands-on investment, however you can hire a property manager to alleviate most of the work. Choosing the right property and tenants will also reduce risk of major issues.