Since more people are renting than buying, prices on many homes have been reduced to meet the market value of your area. If you haven’t heard already from many different people, now is the time to buy! Sure, the prices are lower, but maybe you don’t see the benefit of taking on such an expensive purchase when you can rent like everyone else.
You can choose to view your purchase as more of a long-term investment. Market prices may be low now, but your property may appreciate over time. You can rent out a property for enough to cover mortgage, taxes, and maintenance, as well as provide you with additional profit. Since people still see renting as being cheaper or less risky than a purchase, you might be able to have a higher asking rent. You might also be able to use a high rental amount to help pay for the property you are currently residing in.
Property investment profits depend on the market and our company tracks those market trends to make sure our portfolio of investment properties have the highest return on that investment. Sometimes you can take distressed or rundown properties and update the asset to make it more valuable. We are able to assess cost and potential gain for particular updates to a certain property.
In 2009, half of all residential real estate investors earned $75,000 or less. This means that it isn’t out of your reach completely to start thinking about investing. Call us today if you need any consultation or are interested in seeing our investment portfolio.
