Generating passive rental income is the goal for any smart real estate investor, but it’s not always easy.
There are things about a property every investor should know before they close a deal, but sometimes, the unexpected happens, and landlords lose.
That said, there are a number of strategies investors should be mindful of that can help them secure a maximum return and avoid circumstances that can lead to financial setbacks.
A property management expert, Mike Hills has been house hacking for almost 20 years, and knows what investors need to do to stay on top. He owns a portfolio worth more than $8 million, built off the strategy in which owners of multifamily rental properties live in one of their units while collecting rent from the others.
Here are the three things Hills has invested in to boost his passive income from that portfolio.