Hi all I'm looking for some advice.. I'm thinking about investing in rental's any advice good or bad..
Thanks.......

That is like asking me what type girls/ guys you should date!!!!

What type rentals are you interested in? What is the market for that type in your area? What is the overall housing market in your area of interest? What are the most significant economic drivers in your market and how will they be changing in the next year, 5 years 10 years. What is your experience level in Property Management? Are you licensed and are you a qualified Property Manager? What is your financial goal and status? Do you have a basic plan or idea about any specific area/ type of rental property?

Working with rentals is actually not good or bad. While I personally think Property Management sucks and is a clerical job, it is small part of my brokerage activity that I reluctantly oversee, it would never be one I would care to be involved with full time... I hire clerks to do it for me.

As far as pure investment with out the day to day Property Management operations, it is a far more attractive element of interest to most investors. You still have to determine what type and how your personal capabilities would fit that specific type investment.

All investing is a mathematical problem, rentals are a marginally more complex math problem but one you must be able to use to make sure you are an investor and not just a speculator or simply a gambler or worst.

I have 30+ rentals and I would recommend getting into rentals to anyone who lives in a market where rental income can cover all of the expenses associated with a property, as mentioned above you should also look at the real estate trend in you market to see when is a good time to buy. When you do buy dont fall in love with any house or any tenant. Try to buy at 85% FMV or under in case you dont like the business.

Another way to sample rentals is to do a rehab where you rent the home out while your waiting to sell it. I have had alot of success with this as well.

There is no right or wrong answer about if rentals are for you but it is definately something worth looking into

Eric Medemar

Thanks. The property I'm looking at to rent. Is priced at $24,000 the FVM is about $45,000 I had a contractor look over the home and he told me other than just updateing it all it needs is a garage torn down. The property is priced so cheep b/c it is in an area wher there are more renters than home owners. I think I can buy it update it and remove the Garage and have it as in rental for under $32,000. it's a 3/1 with about 1250 sqft which I think is good for a rental

Well you still have not identified most of the critical factor needed to determine if it is a good investment. It may be a great rental and a very poor investment. You need to identify what will determine if it is good or poor investment. You have not provide anything except procurement cost which is not the only critical factor as previously stated.