Tag Archives: Rental

Taking out a mortgage on a rental property secured by a certificate of deposit?

Since CD interest rates are so low we were thinking of securing a mortgage with one to buy rental property-the cd would still earn interest, and (hopefully) the rent would pay for the mortgage.
We have someone knowledgeable about property who could manage it for us, but I have qualms about people who don’t pay their rent/and or destroy property.
Any suggestions?

What is a good way to collect rent if you do not live in the same city as the rental property?

I’m looking to buy some rental property, but I’m not sure how I would be able to collect rent if I’m in another state. I know there are agencies that will manage the property, but I would like to do it myself. Any suggestions? What if I opened a blank checking account for the tenant to deposit money every month? Any comments?