Hi Guys,
As i'm going to have to make this decision very soon i thought i'd pick your brains as to the best option.
I personally don't think i want the hassle of collecting rent etc... Opening the home for countless inspections etc... However, i also know i'd do a better job reporting on the condition of the home given i know how slack the PM's were when i was renting (EG: Inspections supposedly every 3 months but we only have 1 visit in 3 years - and i found out from the owner he was being charged as if it was every quarter).
Anyone have any advice for a first time IP purchaser that hasn't done either before?
As i'm going to have to make this decision very soon i thought i'd pick your brains as to the best option.
I personally don't think i want the hassle of collecting rent etc... Opening the home for countless inspections etc... However, i also know i'd do a better job reporting on the condition of the home given i know how slack the PM's were when i was renting (EG: Inspections supposedly every 3 months but we only have 1 visit in 3 years - and i found out from the owner he was being charged as if it was every quarter).
Anyone have any advice for a first time IP purchaser that hasn't done either before?