Buying a property is a great investment in life and is not always so easy to accomplish. However, if you are in the fortunate position where you can purchase a second property, renting is a fantastic way to maintain a steady monthly income.
Becoming a landlord comes with its own pros and cons, you have an easy way to bring in a monthly income, should your tenants be reliable, but there are negatives to this role.
You must be contactable to your tenants and fix jobs that make the property unsafe to live in, this could at times be costly, it is recommended that you get a landlord insurance with bricks and water coverage as a minimum. This will give you the insurance support that you may need, it is better to have this before you end up spending all your earnings on fixing a leak in the roof.
Find the right property and go for it, it is a great way to see your money grow.