Purchase With A PlanThere are several questions to ask yourself before you invest in real estate. Will you want to use the property part of the year? Vacation rentals are enticing on many levels, though considering how often you will use them during the "off season" may affect your potential rental income. Do you want to invest in a house or a condominium? The type of property you intend to invest in will affect your monthly maintenance budget. Your agent at Fran Campbell Team will be your guide as you decide the best location and type of property to invest in.
Before you look at properties, sit down with a mortgage lender to see how you qualify for a loan. Being pre-approved for the investment ensures that you have enough capital and having back-up funds is important as well, in the case that the property produces less income than you expected.
Understand Your Investment
Evaluate Your Options
Get InsuranceProper insurance includes insurance on the structure itself as well as liability insurance, in case someone is injured while on the premises. You will want to have the right types of insurance with sufficient coverage to protect your investment. Having this information right out of the gate will give you peace of mind going forward with the legal aspects of renting a property.
Don't Forget: You're In Business
Contact Fran Campbell Team at RE/MAX Lake of the Ozarks for all your real estate needs.
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