Whether you are just launching your real estate career or you’re already a seasoned professional, owning rental properties is a great way to accumulate long term wealth, prepare for retirement, and diversify your investment portfolio.
If you’re sick and tired of the restrictions of your 9 to 5 job, owning one or more rental properties allows you to become your own boss. How? Because you get to control every aspect of the property. You select the property, choose the tenants, determine the rent price, perform fun upgrades and so much more. And if you prefer a more passive style of investing, you can opt to hire a property management company to take care of the day-to-day busy work (like maintenance issues and tenant complaints) for you. Either way, now is a great time to consider building a rental property portfolio.
Owning Rental Properties: Where To Get The Biggest Bang For Your Buck
There are a number of benefits that accompany owning rental properties besides preparing yourself and your family for a financially stable future – as if that’s not enough. You qualify for significant tax deductions, you gain property appreciation by leveraging other peoples money, and you bring in a reliable cash flow, all while your tenants pay down the property’s mortgage.
If you’re ready to buy your first rental property, consider investing in one of these U.S. markets first: