Buying & Holding

[Kleefenzie Lightner]

Hello,

As a newbie I'm seeking the advice of experienced investors. Would you do a buy & hold as a rental property on the same street as your primary residence? Currently there are two properties on my street that are vacant (owners deceased). Having heard a recent podcast on the potential nightmare of having tenants living so close I'm a little cautious about the idea. Maybe wholesaling the properties would be better? I look forward to you suggestions.

Thanks

Klee

[Steve Katuska]

I would just make sure that your analysis doesn't overlook the "property management" costs that you will pay yourself in your own time / resources managing it. I could see running the numbers assuming you get the property management for "free", but you need to account for your time and energy (and also get the numbers right in case you need to move and are no longer in the area).