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Rental property investment can reap dividends, but ... headaches part of the business.

Publication: Mississippi Business Journal
Publication Date: 24-APR-06 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Rental property investment can reap dividends, but ... headaches part of the business.(Focus)

Article Excerpt
Cheryl High, broker-owner of Cheryl High Realty in Gulfport, used to complain when she had a rental home tenant who left the place trashed out. But when she was commenting about that at a real estate seminar, the speaker said: "Thank them. They are buying you a house."

Despite 20 years of being in the rental home business, High says she doesn't know how to pick renters.

"I have had really good ones and the worst in the world," High said. "I think that is the nature of the beast. I used to buy properties and completely renovate them before renting them out. Then I would be so disappointed when renters wouldn't take care of it. Now I fix it up at first, but save the big redo until I sell."

Despite the headaches, High says investing in rental homes has paid off handsomely for her. She was able to purchase--with cash--a nice home with 20 acres. She now has several of the rental homes paid for. And when her office washed away with Katrina, she was able to weather the loss.

"Because of...

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