Real Estate
How to Turn Your Primary Residence into a Rental Property
Door Francis · · 3 min leestijd
So, you want to know
how to rent your house out
. Maybe you’re upsizing or downsizing, moving away for work, or just want to buy another primary residence and take advantage of low-money down loans. Whatever your reason,
renting out your primary home can be a phenomenal way to get into
the
real estate investing
game. You’ll make
passive income
, all while holding on to the
equity
in your home and
appreciation
potential. So, how do you start? David, Henry, and Rob are all on the show today to give you a
step-by-step guide to turning your primary residence into a
rental property
. Hundreds of properties have been owned between these three investing experts, and all of them have turned their primary residences into rental properties multiple times. But
before you rent out your home
, you’ll need to know if your home is even rentable. We’ll tell you exactly what you need to know to decide
whether
or not
your home would make a good rental
, how to
make the most money possible
off your home with affordable finishes, added amenities, and upgrades, how to
decrease your liability
and keep your property safe,
insuring your rental
,
screening tenants
,
collecting rent
, and more. If you’re a beginner landlord or are renting out your home for the first time, you CANNOT miss this. Click here to listen on Apple Podcasts.
Listen to the Podcast Here
Read the Transcript Here
Watch the Episode Here
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In This Episode We Cover:
- How to convert your primary residence into a rental property
- How to know whether or notyour home would even make a profitable rental
- Areas to invest inand what potential renters will look for
- Long-term vs.short-term rentalinvesting and how to know which works best for your home
- Affordable finishes and amenitiesyou can add to rent out your home for more
- What you MUST fix in your home tokeep your liabilityas low as possible
- Landlord insurance and the one added policy you (probably) should get
- How to screen tenants, collect rent, and get substantial tax benefits
- Whether toinvest in out-of-state rentalsor buy property in your backyard
- And SoMuch More!
Links from the Show
Books Mentioned in the Show
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.