Comments on: How to Invest in Rental Property

on 3/18/2007 Try out free online tools like (http://www.zillow.com or http://www.flipcalc.com ) that can help analyze your rental property.

on 1/2/2007 I have recently had a chance of using a Personal Finance Software package by Australian business Parcus Group - Personal Finance Associate.
The product is very good. For the AU$29 it costs, you get budgeting, financial planning templates as well as advanced features that typically cost loads more as separate software packages such as investment real estate calculations (mainly based on rental cash-flow analysis) as well as some value based shares valuations (based on Warren Buffet's stock valuation methodology)
Their website is www.parcusgroup.com
For anyone interested in their own wealth creation (via real estate or else) this product is definitely worth looking at.

on 11/22/2005 An older building that needs work may mean you can't rent it. Many cities have rental laws and fees to pay if you are a landlord. Cities may require you to hire an electrician for wiring repairs, for example, even if you can do the repairs yourself.

on 11/22/2005 Find a property with an "Owner Will Carry" option. The owner carries the loan at terms you both agree to. The result is typically more flexibility with interest rates, term length, and down payment.

on 11/22/2005 Choose a property that can take abuse, because most renters won't care for it as well as you would. You probably don't want hardwood floors or white carpeting and do want a low-maintenance yard. Make sure everything is heavy-duty - paint, appliances, etc.

on 11/22/2005 Learn your rights and responsibilities as a homeowner. Join a local property owner group. Many people join our groups only after they are in trouble with things like trashed units or nonpayment of rents. There are meetings and discounts also.