FIRST-TIME LANDLORD

 There are many roads to take when you are considering becoming a landlord, but not all of them may make sense if you are looking to step into it in a small way.  Property management, while an excellent option for some, can be cost-prohibitive based on the returns of a small rental investment.

There are many other supportive resources for first-time landlords who have the time and energy to do the research.  But for those who would like support specific to their situation, FTL offers a unique opportunity to work directly with an experienced landlord who can give the initial guidance needed to assure a strong start.

• First-time home buyer – wanting to purchase a home but don’t have quite enough money? Consider a duplex (you live in one unit and rent the other), or an M.I.L. (mother-in-law apartment). Use rental income to help qualify for the loan and make payments!
• Have a home to rent – whether it’s a primary residence or secondary residence, sometimes situations arise in which you find yourself better off renting a home than selling it.
• Have extra rentable space in your home – depending on where you live and the extra space you have, renting is a great way to add income. Convert space into an apartment, or even rent out the space as is for storage purposes.
• Looking for an investment property – Take a look at the real estate market and consider the strong benefits of a long-term investment that offers promise during any economic period. When real estate prices are in the dumps, it usually means the rental market is strong, and vice versa.

“I just wanted to take a minute to thank you once again for your help in getting me to take the plunge of becoming a landlord! Your information and support was invaluable and helped me feel comfortable and confident in moving forward to rent out my previous primary residence. I have several clients and personal friends who go through this thought process from time to time and I won’t hesitate to recommend your services to them.”  – Umar G., Mortgage Broker

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