Do you have what it takes to be a landlord?

Well, do you? St. Louis Today has an interesting article up on their website that gives advice to people who want to invest in some property and become a landlord. The piece provides amazing financial advice for those who are keen on making some cash flow on the side. Then again, it also gave a fair warning for those who only think about the gains that they can get, and not the losses that they’d be sure to acquire such as operation expenses and taxes.

See, if you have the disposable money to just get a place and be a landlord, you have to weigh your options. Ask yourself, do you want a windfall profit? Or would you rather have small amounts trickling in every month instead?

If you chose the first one, then you have to spend money to earn money. Flipping houses only works well if the area’s property values are increasing. You better be ready to face unexpected expenses before you can sell it for a profit.

On the other hand, being a landlord may be more suitable for your tastes. But tread carefully! The money doesn’t depend on you alone, but also with the tenants that will rent a unit on your property.

So, what do you prefer? Flipper or landlord?

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