You’ve probably heard or read that now is a great time to invest in real estate. Prices are down (!), interest rates are low (!), but you hesitate. It sounds too good to be true and you’ve been burned before. Remember the dot-com bubble? Yet, your interest is piqued because your savings and investments are basically flat-lining, if you’re lucky. Is there really a way to leverage your long-term savings dollars into a steady cash flow that will pay for your child or grandchild’s college? Or, provide enough retirement income to travel and live the way you want to?
Purchasing and owning residential rental property can be an excellent investment right now, but it’s very important that you understand many factors before jumping in and buying what you think is a “deal”.
Questions will consider about real estate investing:
How will owning rental property affect your taxes?
Is the rental property in a desirable location and is it in good condition?
Is it a good value?
How much rent can you expect for a particular property?
How much will it cost to let a property manager take care of finding stable renters, collecting rent and taking repair calls?
Do you need special insurance on rental property?
What are the legal issues for landlords?
How hard is it to get a mortgage for rental property?
Making the Most of Your Money: The ABC’s of Investing in Rental Property will be presented Monday, November 14 from 5:30 – 7:00 pm at the Beverly-Hanks Hendersonville office. A local CPA, attorney, property manager, insurance agent, mortgage broker and real estate agent will provide timely information and answers to your questions. There is no charge and registration is required, so register soon! Space is limited to 30 participants. You may register online here or by calling (828) 243-2010.