For many of us that may be looking for a new way to generate some pretty simple revenue on the side, buying an investment property can seem like a no-brainer! For relatively little disruption to your current lifestyle, you can watch a rent payment appear in your bank account each month, almost like free money, right? Well...not quite. While it can seem as simple as that—and sometimes it even is!—there are quite a few different nuances to owning rental property, and pros and cons that come with each of them.
The Benefits of Owning Rental Property
Like I said, investing in rental property can be a fantastic, lucrative venture for anyone looking to generate some side income. Here are some of the pros:
Steady Monthly Income. So long as you have…