What do you need to know about getting an inspection on a rental property? How does the process work, and how do you go about finding an inspector? That’s the first question I’m answering on this Q&A episode!
On today’s show, I’m answering three of your great questions about inspections, single-family properties vs. multifamily, and what you should consider about paying off your mortgage. Tune in to this episode of Investing in Real Estate to hear my answers to your questions!
On this episode you’ll learn:
- What you need to know about getting an inspection.
- How multifamily investments compare to single-family housing.
- How to decide between paying off your mortgage or investing.
What You Need to Know About Getting an Inspection
An inspection is an important part of buying any property. So in short, yes, I recommend getting an inspection! At our company, we work with third-party inspection companies to ensure that the job is done fairly..
How Multifamily Investments Compare to Single-Family Housing
Anything under four units is considered residential, and properties over 5 units are commercial. Personally, I don’t like the idea of investing in anything commercial. It’s just an entirely different beast that has a lot of extra steps in the process. However, if you can invest in smaller multifamily housing (like duplexes or triplexes), I think that’s usually a wise move.
How to Decide Between Paying Off Your Mortgage or Investing
I personally think that you don’t have to choose between these two options. You can do both! If you’re interested in paying off your mortgage, please consider reading my book, How to Pay Off Your Mortgage in 5 Years.
Trying to decide between paying off debt and investing is a personal decision, so I can’t tell you what to do either way. There are a ton of great options available, and it is possible to pursue both goals at the same time.
Ask Me a Question at morrisinvest.com/clayton
How to Pay Off Your Mortgage in 5 Years
morrisinvest.com/webinar ← Sign up for my webinar!
morrisinvest.com/clayton ← Ask me a 30-second question!
morrisinvest.com/bootcamp ← Download your FREE 90-Day Bootcamp!
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Ready To Build Passive Income Through Rental Real Estate?
Ready to talk about your goals? We're here to show you the tools and teach you the process to begin earning legacy wealth for you and your family.