Things are moving in the right direction, regarding real estate, because the economy has gotten much stronger! If you are already a homeowner and you are looking to make a sound investment don't look any further. Real estate investment property is your answer providing you have good credit and income as well as a substantial down payment.
Buying a two family or multi-family home is one of the best investments you can make. There is no better time because prices of homes are down and mortgage rates have bargain opportunities. With a minimual monetary investment you can own a home and your tenants can pay your mortgage, repairs and improvements in many cases.
Second homes that are tenant occupied are allowed to be depreciated or written off for a substantial tax savings. Make sure to check with an accountant because everyone is in a different situation.
Real estate is a viscious cycle. Hang on to your home for 5, 7, 10 or more years and watch your investment appreciate while tenants pay the rent. Hang onto it long enough and pay it off and increase your income drastically. Investment property is a great source for those golden retirement years or children's college tuition years.
Posted by Tom Crimmins Realty, Ltd. on
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