It took me YEARS to get over my commitment phobia of buying a house. Then once I finally did, I realized home ownership is not as hard as I had dreamt it to be and I found myself wishing I had made the leap years ago. Now here I sit, wanting to buy another property to use as a rental and I’m scared again. I’m a real estate agent, my job is to help people buy and sell properties, so why am I so nervous?!
I think my nerves can be attributed to all the unknowns. Of course I’m familiar with all the steps of buying a property, but being a landlord is new to me. Essentially, I will be running a new business where I’ll have to invest money to buy a property, then invest more money to spruce it up (and furnish it if it’s a vacation rental), market it to find tenants, and then continue to manage/maintain the property….oh, and pray nightly that the renters don’t damage this large investment. Beyond that, there’s so much more than I’m sure I realize, that I will need to learn along the way.
So, I’ve decided I’m going to share my journey to buying a rental property. I plan to be very candid about my wins and losses along the way in hopes that someone else can learn from my experiences. Also, by posting this for the world to see (even though it may only get 3 views, haha) it will hold me accountable to staying on track and accomplishing my goals. And maybe, just maybe, a successful Real Estate Investor will stumble upon this and share some knowledge!
Buckle your seat belts ladies and gentlemen, Mission: Cindy’s Buying A Rental is ready to launch! We’re expecting to land (close) by April 2019.