Buying a rental property can be done anywhere in the world. You can buy rental properties at the beach, in college towns, or anywhere in between. The choice is yours. The most important thing to remember is that the rental property you buy should have potential. You will want to be as sure as possible that you can rent it out on a regular basis. After all, having a property that is not being rented out is not making you any money. So just as long as you can find a tenant to rent out your property you will be in good shape.
Buying One Rental Property a year for 10 Years
It may sound difficult to buy one rental property a year, but all in all this can be an easy task if you plan for it financially. Make sure that when you are doing this that you never over extend your budget. Many people make the mistake of relying on the money that they will make on rent to pay for the mortgage. Even though things may work out this way, you do not want to rely on this way of paying your mortgage. Always make sure that you have the money to make the payment even if the property sits stagnant.
Overall, buying rental property a year for 10 years can get you loaded. If you want to make money in real estate, try out this technique. It may be hard now, but in 10 years you will be proud of yourself!