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Summary & Conclusions
You should now have an good basic understanding
of how to buy and sell sell income real estate, along with some of the tasks
involved in managing it. Many of the
principles also apply to a personal residence, but, as you've seen, rental properties require a
significant number of additional considerations and concerns. You
have seen that one of the most issues when buying real estate is that the deals
are properly structured and that adequate contingencies are written into your purchase offer.
During the period of ownership, adequate tenant selection procedures,
well-written lease agreements and other
documentation, an understanding of the law, and following good procedures are
critical to minimizing conflicts between landlord and tenants and maximizing
return on investment. Upon
disposal of the property, consideration must be given to tax considerations in
addition to the structure of the deal.
Final Quiz
Your RHOL membership provides the information
and tools necessary for becoming a knowledgeable investor and an efficient landlord.
Services provided by RHOL for members include:
Instant
credit reports from the Web *
Forms &
Agreements -
downloadable and many editable Word and/or Fill-in PDF *
Forums - get
help with specific problems **
Web based
instruction via e-courses *
State
landlord-tenant laws *
Vacancy
listing web
Pages that
discuss subjects from Abandonment to Zoning
***
* Available ONLY to Members
** Some services available only to members
*** Many pages are available ONLY to Members
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