Three Questions To Determine How Much Wealth You Can Build With A Rental Property
"How much money can I earn?" is often the first question I get from people who are deciding whether to buy or turn their home into a rental property. I'd argue that this is the wrong question to ask.
When you're looking solely at how much money you'll earn from a rental property, you'll estimate how much you can charge for rent and how you can minimize property management expenses. These types of calculations are important, but they don't offer a complete picture of how much value the property will create for you.