Quote:
Originally Posted by PeanutButter
Does anyone have experience with investment rental condo's?
I'm looking to purchase in Langley, Maple Ridge, etc. Budget is about $140k
I figure I can get about $800 in rent a month based on compatibles on CL.
Does anyone have experience with this sort of thing or know a knowledgeable realtor. I found some online, but if RS know's some people, that would be cool too.
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Realtor?
You should be looking for a property management agency.
If you purchase real estate solely for investment purpose, I would personally recommend you hiring a property management agent. (you need to do your own homework to see who to hire, obviously)
If you rent it out by yourself, posting ad on craigslist, finding a tenant, making up your contract, and if tenant doesn't pay, you would personally have to go there and kick them out. If they cause damage, you would have to send them an invoice and/or sue them...or if they don't pay on time, all the other headaches that comes with it for being a landlord.
So it would make sense to hire a "middle man" so you can just sit on couch and collect paycheque.