By Ap Mcclatchy | [email protected] | PUBLISHED: September 21, 2019 at 4:04 pm | UPDATED: September 21, 2019 at 4:06 pm If you’ve been watching reruns of HGTV’s “Income Property” and wondering if it’s time to buy a rental property and become a landlord, you’re not alone. Between our slow-growth economy, historically low interest rates, and the mood of millennials to rent instead of own, income property has been on an uptick since the Great Recession. In fact, real estate is now Americans’ favorite long-term investment, according to a recent Bankrate study. The popularity of real estate is at its highest point since Bankrate started the survey seven years ago. Should you take the plunge on a rental property? Experts offer a qualified yes, provided you do your homework first. Here are 10 things to consider before diving into income property.1. It’s not as easy as it looks Forget the TV sitcom stereotypes of clueless landlords. To make the most of income property requires an accountant’s eye for detail, a lawyer’s grasp of landlord-tenant laws, a fortune teller’s foresight and, should you choose to manage your rental property yourself, a landlord’s firm but friendly disposition. “Where people who want to… Read full this story
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