Bernard McGowan: Survival Tips For Rental Investment

Investing in a rental property means buying a property that can generate an income in the form of rent. As stated by Bernard McGowan, there is no doubt that rental property investment can be a great way for beginners to generate positive cash flow every month. A rental property is real estate purchased by an investor and rented out to tenants. 


Demand for long-term rental properties goes up as more buyers are priced out of the market. So if you buy your first investment property right now, you are likely to find a large tenant pool waiting to rent it. This means you should be able to enjoy low vacancy rates and good cash flow soon after the purchase. Buying real estate is a popular way to invest, and—if you do it right—you can make some real money! You know why? Because the property is valuable. 



There are several reasons investors should buy their first rental property shared by Bernard McGowan, not the least of which include:


1. Buying first rental property assets can help investors establish a foundation for collecting passive income and generating wealth for generations.


2. Passive income generated from buying your first rental property may act as a financial safety net and help landlords/investors in times of need.




3. When you buy your first property and rent it out, the cash flow it generates can usually be used to pay down the mortgage and pad the coffers of investors for years, if not decades.


4. Buying your first rental property gives you the flexibility to sell when the time is right. With consistent cash flow, owners aren’t typically forced to sell when they need more liquidity.


5. Appreciation is never guaranteed, but history has taught us that home values increase more often than not. As a result, rental property owners can usually depend on the appreciation of their assets.



To invest in Rental Property isn't right for everyone, and it isn't the only way to invest in real estate. So, before you start looking for your first investment property, take a step back and decide if it's the right way for you to get into the exciting world of real estate investing.


With that in mind, following certain steps can help make the process of buying your first investment property as smooth and productive as possible. Bernard McGowan says that, all of these steps might not apply to you (for example, if you're planning to pay cash, you can skip the financing discussion), but here's a general overview of the process, followed by a detailed discussion of each step.


  • Decide whether an investment property is the best way to invest in real estate.

  • Decide what (and where) you want to buy.

  • Secure financing for the property.

  • Learn how to calculate cash flow the right way.

  • Decide on a property to buy.

  • Decide whether you want to hire a property manager.


Buying your first rental property can be a daunting task. However, it doesn’t have to be this way. With the proper advice, you’ll be able to successfully buy a cash flow rental property in 2021.

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