Remember, when you sell your house or condo your total closing costs will usually be between 8% and 9% of the sales price. Closing costs include real estate commissions, excise tax (sales tax), title insurance for your buyer, and half of the cost of the escrow company that closes the transaction.

Let me know if you’d like a sample breakdown of what closing costs would be on your property.

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With home prices AND interest rates relatively low, a great many people are thinking about becoming landlords. Some of my clients have contemplated purchasing a new home and renting out their current home, rather than selling it in a down market. Others find that they can actually purchase a property for under $250,000! Or under $150,000!…or even, under $75,000! like the charming fixer a client recently bought in Boulevard Park.

Shelley Rossi, who writes for the Windermere blog, has some great advice in her post on The Risks, Rewards, and Benefits of Owning Rental Property.

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