Every year, it seems like the same things are on the list but this could be the year you really do invest in real estate.
Rents are climbing, values are solid and mortgage rates are still low for non-owner occupied properties. Purchasing a rental home for $150,000 with 20% down payments can easily have a $300 to $500 monthly cash flow after paying all of the expenses. Or, just by "getting on the property ladder" by purchasing your own home to live in can save you the same amount when compared to renting.
There are lots of strategies for getting the best value that can be successful, but a tried and true formula is to start by purchasing in below average price range homes in predominantly owner-occupied neighborhoods. These properties will appeal to the broadest range of people, when you’re ready to sell or lease it in the future.
Single family homes offer an opportunity to borrow high loan-to-value mortgages at fixed rates for long terms on appreciating assets with tax advantages and reasonable control.
This could be the year to make some real progress on your resolutions. Take the first step by learning about rental properties. We are having a FREE webinar on January 4th at 2:45 PM Eastern time zone hosted by national real estate speaker Pat Zaby. Click here to register. And if you can’t attend live, by registering you’ll be sent the link to watch the webinar at your convenience.
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