Finding the right investment strategy can be difficult. You must consider a variety of factors, including your budget, the prospects of each investment opportunity, your level of risk tolerance, and more. In our experience here at Thornburg & Associates, Inc., investing in real estate is always a solid strategy, as people will always need housing.
In this article, we will go over a few key reasons why you should consider buying additional homes to rent out.
- Value Appreciation – Homes are not just places to live, but also major financial assets. Homes also tend to appreciate over time; while home prices occasionally decline, the overall trend is for the price to increase. This means you can generate income from renting your secondary homes out from month to month, and then sell at a profit if you decide to let the properties go.
- Passive Income – In our experience, some people hesitate to buy second homes to use as rental properties because they believe they will have to maintain the property themselves. However, this is not the case, as you can have our property management company take care of the homes for you. We’ll handle maintenance and upkeep, and we’ll even find tenants for you and act as the point of contact for all their questions. You won’t have to do anything but deposit the rent checks.
- Steady Cash Flow – As we mentioned above, people always need homes, which makes investing in rental properties a safe strategy. Our team will keep your rental units full so you will always have a steady stream of income coming in.