Owning rental property is a easy way to reach your financial goals. I currently own several rentals that provide me with income every month. With very little work on my part, I can earn somewhere between $200.00 to $400.00 a month from a rental. This does not sound like a lot of money but imagine getting that same return on 80 to 100 properties. I do not have to work harder to earn more money because my properties work for me.

People worry because home prices are down, but believe me the market will come back. In fact, prices have leveled off in many cities and even started increases in others. This is not the first time the real estate market has crashed in the country. The people that are worried are the ones trying to sell there homes. Now is the worst time to try and sell a home. When prices are low you should buy, buy, buy.

The reason I suggest buying investment property today is because prices are low and so are interest rates. Normally when real estate prices are low then the interest rates are high and when prices are high the interest rates are low. But in today's market you got the best of both worlds. Even if home prices do not increase anytime soon, you can make tons of money in today's market by buying property and renting them out. Having rentals is a good way to get monthly income while your property increases in value.

Even in the best of markets I never think about selling any of my properties. When I sell a property I am losing income because I can no longer rent that property. I am always looking to buy more properties so I can increase my income. It is a very simple concept, buy a property in a well populated area that is in good shape and rent it for more then your expenses. People always need places to live, so why not provide a place for them. Once you get a couple of rental properties is gets easier because you become more confident.

A potential renter will be asked to provide information such as their income and references, but in many cases their credit score will also be cross checked as part of the process. For a person who has bad credit, looking for real estate rentals can sometimes be very difficult. In some cases a person with bad credit will still be able to rent the property, but there might be a higher deposit required. However, in many cases a landlord or rental property company will simply decline an application from a person with bad credit.

However, living with others has some real bonuses also. The key plus is that by having others share the place you are saving yourself money, not just on the rent but also on power, phone, internet, and water. Also, you have less chance of feeling isolated and alone with others about.

You have to think about what you are going to need on a daily basis too. If you need to use the subway or buses to get where you need to go, then you need to get a place that is close to any of the stops you might need Do you want to be close by to the mall and cafes? Work out what you will concede on and which things are an absolute before you start looking.

Going solo has some pretty clear pluses. There is no annoying person waking you up or leaving their mess all over the place and you have total control over the place. However, living with others has some real bonuses also. The key plus is that by having others share the place you are saving yourself money, not just on the rent but also on power, phone, internet, and water. Also, you have less chance of feeling isolated and alone with others about.