Likely sounds crazy but I’m in the beginning process of purchasing an investment rental property. I’m familiar with the purchasing process and whatnot, but would be curious if anyone has feedback on managing the rental directly or signing on a management company? It’s going to be a single-family home for context. Do I need a lawyer for this endeavor, where is the best place to get a rental agreement, suggestions on rent pricing, etc. Any information would be greatly appreciated!
It is the worst time. Prices are hugely inflated because of the long bull run and weird period of low interest rates. Now interest rates are back up and there is political pressure to regulate the housing sector. Also worth remembering that the recent period of high prices, low availability, and ongoing price appreciation is freakish. Over most of history residential real estate has been a depreciating asset that has modest margins and requires constant upkeep. What we are seeing now is a reversion to the mean across the board which will be very difficult for even well positioned landlords.