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Poll: Best State to Own Rental Houses?
Which state/city do you think is the best place in the U.S. to own rental houses and why?
(I'm just about to get into this biz)
2 Answers
- acermillLv 71 decade ago
The BEST state in which to own rentals is the one in which YOU live. Why? Absentee landlord arrangements are fraught with endless issues. You will be faced with either handling all tenant issues from a distance, OR with hiring a management firm in the distant area to handle those issues. Fees collected by management firms are around 8%-10% of collected rents, plus expenses. And THEN you can only hope that the management firm is doing a good job. Not all are decent firms.
In other words, stick 'close to home' if you want to avoid additional problems. That way, you can easily visually observe what is going on.
- 1 decade ago
If you are getting into this business, it's a good thing to do your research. Don't take our advice, we're not professionals. You should start googling the top 10 most affordable cities in the US. Then check out neighborhoods and property taxes. Do your homework on this one, otherwise you'll be paying for it in the long run.
