Our Special Projects Manager Joseph Batista and Intern Clayton Prial write;
"In Part 1, we explored how becoming a small landlord is much like starting a small business. We emphasized the importance of financial planning before purchasing and renting out a multi-family home, from maintenance costs and emergency expenses to long-term budgeting, financial discipline, and choosing the right location – all essential to creating a strong foundation for long-term success.
New Jersey Citizen Action’s Small Landlord Education Program educates current and potential small landlords on best financial practices, as this in turn helps low-and moderate-income families build generational wealth and long-term financial stability. This generational wealth is more likely to stay within their communities, instead of leaving as profits for out-of-town investors and big corporations."