INVH - Thinking About Buying a Rental Property in 2024? Consider Doing This Instead
2024-03-16 05:05:00 ET
Many people purchase rental properties to start collecting passive income. They can be a great way to do that, as the rental income can usually cover the expenses and then some.
However, rental properties have their pitfalls. A big one is that they're not exactly passive investments . Unless you hire a property manager, you'd have to manage tenants and maintenance. Meanwhile, unplanned repair costs can quickly turn a rental property from a moneymaker into a money pit.
Because of that, those thinking about buying a rental property might want to consider purchasing shares in a real estate investment trust ( REIT ) instead. REITs enable anyone to invest in real estate to enjoy truly passive income. Realty Income (NYSE: O) , Mid-America Apartment Communities (NYSE: MAA) , and Invitation Homes (NYSE: INVH) are great REITs to consider buying.
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Thinking About Buying a Rental Property in 2024? Consider Doing This Instead