Not a week goes by that I do not have a client mention they are thinking about buying a rental home to generate investment income. One of my favorite TV channels is HGTV. On many shows they make it appear so easy and profitable to own residential rental properties. However, they do not include the whole picture.
Over the years I have developed an extensive financial worksheet that you must get before you buy that next residential rental property for income. This worksheet covers ALL the costs associated with owning a rental property and what the real net return is after all costs. After all, it’s just the net return that matters to determine true investment income.
