You, like most everyone else, are probably working on or recently formulated your New Year’s resolutions. Many people focus on their physical goals and ignore or overlook their fiscal goals. I often talk about goals and planning when I teaching opportunities come up through the year. Here’s what I have learned from hundreds of people.
Most talk about goals…think about goals, etc. Unless they are written and re-visited often, they are in actuality…just dreams and we know what happens to our dreams when we wake up!
Maybe this year could be the year you really do invest in a rental property to support you fiscal goals. The demand for rental properties and rentals prices are climbing, home prices are inexpensive and mortgage rates are low for even non-owner occupied properties. A $125,000 home with 20% down payment can easily have a $300 to $500 monthly cash flow after paying all of the expenses.
There are lots of investment strategies that work but one that is easy to understand and execute is to stay with below average price range homes in predominantly owner-occupied neighborhoods. These properties will appeal to the broadest range of tenants while you hold them and buyers when you’re ready to sell.
Single family homes offer an opportunity to borrow high loan-to-value mortgages at fixed rates for long terms on appreciating assess with tax advantages and reasonable control.
Decide NOW to make some real progress on your resolutions. First, invest some time learning about rental properties by consulting with a member of Team Paradise. We have the Energy, Experience & Knowledge to help you achieve your goals.
Are you ready to add to your GOALS for 2012?
Do Your New Year’s Resolutions Include Buying A Rental Property?