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How to Buy a Rental Property: Get Tips from the Experts

PennyMac

You have to have enough money saved to be able to handle expenses such as repairs, and cover the holding costs if a tenant moves out unexpectedly or stops paying rent. You also have to have a schedule that will allow you to address any issues that arise since tenants will have to be able to get a hold of you. Kevin Vandenboss.

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10 Ways to Financially Benefit From Your Home

PennyMac

A single-family home, townhouse or multi-family unit can be a long-term asset, offering additional tenant income. A bedroom, guest house or casita could be rented to a tenant, and a spacious basement or garage could be leased to someone who needs storage space.