The rise of real estate investing in social media has been a popular topic of conversation…and for good reason.
There are a lot of amazing things that can come from real estate investing. There’s a lot of work that goes into it as well.
My brother and I have been managing rental properties since 2015.
For me, the goal is to build out a rental property portfolio.
In this episode, I’m sharing my personal experiences with renting out properties and the pros and cons of doing so.
If you’re interested in real estate investing, hopefully this episode sheds some light into the things you should think about when moving forward.
Here’s a glance at this episode:
- [02:01] Raya shares how she and her brother had to assume a mortgage for a property inherited from their dad.
- [05:13] A second property rented out belonged to her mom and it also had a mortgage on it when being rented out.
- [11:40] Biggest pro for rental income is monthly cash flow. Monthly rent payments should cover any costs and leave you with profit.
- [14:44] It can cost a lot of money to “fix up” a property. Work with someone who can help you identify the most important things that need to be fixed.
- [17:55] Raya rents a property with a pool, which could lead to extra liability. Raya shares how she works through this.
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Resources mentioned in this episode:
Listen to episode 86 – Home Buying 101 with Realtor Coco Massara
Learn about Raya’s Financial Focus Coaching Program
Follow City Girl Savings on Instagram, YouTube, and TikTok
Join the City Girl Savings Facebook Group
Subscribe to the City Girl Savings Newsletter!
