Thinking of Investing in Income Property?
Stephanie Tourtellotte/Broker/Sterner Homes Realty & Loans.
The Housing market is beginning to recover, Property values are still within reach and interest rates are still at an all-time low, if you're thinking about investing in a rental property this may be the right time for you to become a real estate investor.
Have you been looking to invest some extra cash reserves that will bring you some great returns? Then consider investing in real estate. Real estate has always been considered one of the most stable choices of investments one can make. Investing in real estate is a real value for your money if maintained properly and is generally a good investment as it develops discipline among investors as it is not as easily liquefiable.
Consider your options. One of the more profitable ways of investing is to buy units, even if you must secure some financing with your initial investment you can cover the mortgage payment with your rental income as well as putting some extra income in the bank. Holding rental units in your portfolio is a longer commitment with a stronger return of equity as the property appreciates in value.
Look for the right location. If you’re going to purchase a property with the intent of renting it out, then location is key. Find homes in high rent or highly populated areas; try to stay away from rural areas where there are fewer people and a smaller pool of potential renters. Purchase a home with multiple bedrooms and bathrooms located in neighborhoods that have a low crime rate as your renters need safe neighborhoods and if they have school age children they will want a good school district. Other considerations to keep in mind are locations to stores and public transportation. The more your property and the location has to offer, the more likely you are to please potential renters.
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