-Not a big fan of condos with the HOA fees..

Or offer to help them fix up a unit for free.Real Estate Agent Invests themselves Responsive Hungry Tech-savvy One-on-one supportTo find: ReferralsAfter you find 3: Sit down with each of them Lender(s) Start looking now and start building a relationship with a few Contractors and handymenHow to find: Ask for referrals Check references The 6:00 a.m. home depot trick Ask store employees Make them compete Bookkeeper Keeps you organized and get your taxes ready CPA Looks at the bigger picture Saves you money in taxes Ideally, someone who specializes in real estate Lawyer Helps you set up leases and other forms and prepare you for the best legal entity for holding the properties Help with evicting a tenant Advise on any sketchy situationHow to find: Ask for referrals Insurance agent Ideally a broker Property manager Cost around 11% of monthly rent Interview a couple to get the detailsCh. 5Analyzing a Rental PropertySunday,September 8, 20199:20PMCalculating IncomeTo determine rent, look at: location Number of beds and baths Amenities like ac, parking, and appliances SizeHow to determinethese: Constantly scan the local paper (daily and weekly) Check craigslist often Check the competition and property management companies’ websites Read “for rent” signs - call the phone and act as a tenant to gather info Talk to other landlords - look for REIA When your unit goes vacant, bump up the rent Too many applicants = price too low Check the MLS (multiple listings service)Estimating Rental ExpensesEasy to calculate: Mortgage — mortgage calculator Interest rates - ask a lender Insurance — call the insurance salesman for quote Water — call the local water department Tenant can pay Sewer — call local water of sewer department Tenant can pay Garbage — call rubbish company Tenant can pay Gas — call the gas company Tenant can pay Electricity — call electric company Tenant can pay HOA fees — call HOA president Snow removal — ask local landlords or snow removal company Tenant can pay Lawn care — ‘’ Tenant can pay Property management — Ask local managers in the area Usually around 10% of monthly rent and 50% of a first months rent (just call it 11% Incase they charge a fee) Even if you don’t want the manager now, you will eventually.

Gorgeous private lot with a stream and NO HOA.

I stay away from areas that are restrictive like Historic Districts and overly zealous HOAs.

1. 120-150k condo with $226 HOA fees (not including taxes or any utilities)2. 50-90k mfg/mobile home with $500-$800 HOA fee (including taxes and water)3.100-170k house that will probably need some work Im looking in Monmouth and Ocean NJ (where I live and work currently) Thank you!

I'm on a HOA in a small condo association.

You have two expenses working against you: taxes (Texas has high property taxes), and any HOA expenses on a condo.  

I have a scenario where I have found a manufactured home on a permanent foundation in an area where you own the land & have a very small HOA to pay for water, pool, parks, rec room etc.

Physical "for rent" signs may help (if allowed by the HOA) too.

Right now my mortgage is $760 plus $94 HOA monthly fees.