Rental Properties - a Sprint or a Marathon Approach
In today's podcast, we talk with a top commercial agent in the Los Angeles area at Keller Williams, Michael Tootikian. We discuss owning rental properties not only as a hedge against inflation but as a major source of building long-term wealth. Michael shares the approaches many investors use for rental properties. A sprint approach for wealth with cash flow as an immediate return. Or the marathon approach uses appreciation and depreciation to create wealth over a longer period of time. He does say that many of his clients have used both, all depending on what they are looking to gain at the time of buying the rental property. One thing Michael does make clear is that rental properties are not a "set it and forget it" investment. Having the right systems and resources in place is the key to getting the most out of owning rental properties. We all have to start somewhere in owning real estate and Michael can look back at all his past clients and remember when they all started with their first rental property. So one big takeaway from this podcast is to just get into owning rental property as soon as you can and eventually it will snowball into bigger and better projects.
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