Consider these two types of investment opportunities:
This can be a condo, a single family home or a 2-4 unit, that is rented out for a long term (i.e. a year). If the property owner doesn’t want to handle managing the property (collecting rents, renting the units themselves, taking care of any repairs needed, etc), they can hire a property manager. The property should steadily appreciate year after year, and along with paying down the mortgage on the investment, leaves residual monthly income when fully occupied.
These properties are usually located in top tourist areas and can be rented weekly or monthly. The benefit of these types of investments is that they are usually at a premium and can generate a lot of revenue. The downside is there can be a lot of wear and tear on the unit and generally you do need to hire a property manager to keep up with the maintenance on the unit.
We have an extensive referral network across the country. If you are thinking about investing out of state, let us know in the form below so we can connect you with the best agent in that area.
You can continue to increase your net worth with some home renovations, which will increase your home’s market value. For example, bathrooms, kitchens, landscaping and deck/patio/porch additions have the largest return on investment.
If you are curious what your home is worth, complete the form below. We will be in contact with you shortly to go over your investment goals.
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