• kate_sept2004/Getty Images Purchasing a second home to rent out can be a great passive investment idea: You buy a house, your renters pay off your second mortgage and you’ll have supplemental income from your tenants’ rent payments. An investment property is real estate property that you buy with the intention of earning investment returns through rental income, flipping the home and/or through resale in the future. Data released by the U.S. Census Bureau in 2017 [...]

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    You’ve made the decision to convert the home in which you live, in other words, your primary residence, to a rental house. Maybe you’re moving, or maybe you figure you can make some good money, collecting that all-important cash flow, by making your home your rental property. Whatever the reason for the change, congratulations on your decision! But you can’t just move out and declare your home a rental. There are some things you need to do first. Find out what they are. You need to [...]

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    Recently, I went down a residential mortgage rabbit hole. I’ve been considering buying a vacation rental. With dreams of beachfront cottages and wooded cabins, I went online to research financing options. There were so many. True to myself, I obsessively researched it until the idea of a vacation rental gave me chills. The amount of money we would have needed for a loan was too low for a traditional mortgage. I wasn’t aware that mortgages had minimums. I also wasn’t aware of the [...]

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