Do you have what it takes to be a real estate investor?
You don’t have to be a financial genius to make millions from real estate investments, you just need a team of good advisors – a mortgage expert, a realtor, and a real estate lawyer. Investment properties require a minimum 20% down payment, so before you start shopping for the ideal property, speak with a mortgage expert to understand what you can afford based on the stress test qualification rules.
Buying one or more investment properties is a great way to generate rental income and build wealth over time. This rental income will greatly reduce or cover your entire monthly mortgage payments and will ultimately build equity. In addition, if you hold the property for several years you will also benefit from the long-term appreciation in property value. It’s like having your investment growth on autopilot with excellent returns – better than any savings account. At some point, you will have enough equity to purchase your next property.
Becoming a landlord of rental properties is like starting your own business. It can be very lucrative, but it does take some work to maintain the property, including handling any urgent repairs or service calls. Alternatively, you can hire a Property Management company to deal with your tenants and any issues that may arise.
Whether you are considering buying your first investment property or adding to your existing portfolio of properties, the team at InTouch Mortgage Solutions will provide valuable insights along with the best strategy and financing options to help you achieve your goals sooner.