One of the simplest definitions of rental property investing is getting paid for what you own, rather than just paying to own it.
Benefits of investing in Single Family Homes:
Income: unlike with stocks and bonds yielding about 2%, it’s possible to generate in the low double digits in returns
Tax benefits: (https://www.tctproperties.com/blog/post/top-5-landlord-tax-deductions)
Flexibility: unlike multifamily homes which demand upfront costs, with single family homes you can choose how many you want to add to your portfolio and your own costs
Make sure you do it right!
Choose the right property: know what you are looking for; college town, family living, low maintenance, LOCATION, LOCATION, LOCATION, etc.
Do the Math: make sure you understand your monthly costs and plan for maintenance costs as well. Even though it’s a rental, there is still maintenance that needs to be done and it’s important to understand and budget accordingly
Hire a Property Manager: Shop around, find who works for you. Once you research and find companies you may be interested in, interview with them to find the perfect fit!
Are you ready to invest and start building wealth with real estate? TCT can help, call us today!