Did your new year’s resolution set a financial goal? If so, considering buying a rental property this year as part of your new year’s resolution.
Here are some of the most significant advantages of investing in rental property, and reasons why you may want to purchase an investment property this year.
Advantages of Owning Rental Property
There are several advantages to investing in real estate, verses other forms of investing like stocks, bonds, and CD funds. So much so, a majority of Americans believe real estate is the best long-term investment for money that’s not needed for 10 years.
Passive income is one of the biggest advantages of investing in rental properties. Investors can choose to be hands-on with their investment properties, or use property managers to take care of the day-to-day tasks so they can truly enjoy passive income.
Another advantage of investing in real estate is that investors have control over the way their investing dollars are spent. Many people are turned off with stocks and other investments, because of a lack of transparency. As a result, many investors choose to invest in real estate, so they can control how their investment dollars are spent.
In addition to these advantages, the most experienced investors can purchase investment properties without using any of their own money. One example is Brandon Turner, VP of Content at BiggerPockets.com, who purchased a rental property without putting any money down, which he is using to pay for his kid’s college education.
Generate Rental Income in Retirement
Perhaps the most significant advantage of investing in rental properties is generating passive income throughout retirement.
Many investors fund their retirement with rental income. These investors typically purchase rental properties and allow tenants to pay for them over time, while also collecting cash flow profits. Then in retirement, the investors collect large sums of cash from rental properties they own free and clear.
Besides having the cash to live comfortably in retirement, these investors often enjoy helping their children and grandchildren, while also leaving an inheritance for future generations along with helping their favorite charities.
It’s easy to get started investing in rental properties, if you use an experienced wholesaler like Graystone Investment Group. We will walk you through a turnkey process that includes buying an investment property, rehabbing the property, and selecting a management company that will lease the property to a tenant and take care of the day-to-day management.
Graystone Investment Group
Graystone Investment Group is an experienced real estate wholesaler in metro Tampa Bay, helping clients generate profits and passive income through real estate investing.
Unlike other investment groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.