5 Reasons Why Your First Home Should be an Investment Property
If you’re young and you’re looking to purchase a new home to live in, maybe your first home should be an investment property.
Here are five reasons why you should entertain the idea of investing in real estate while you’re still young.
Here’s the deal
1. You’re Young (so time is on your side!)
Being young and independent can be pretty amazing. You can make your own rules, live where you want, buy what you want and travel whenever you want. But that can get old pretty quickly, especially if you have other goals in mind.
2. Real Estate Is Cheap
Distressed sales are homes or properties that have usually been foreclosed on that the bank is willing to sell at a loss in order to clear its books. These distressed sales also help drive down the cost of all properties in the area.
3. You’ll Have Another Source of Income
If you are purchasing a property that you plan to rent out, you’ll be able to profit off your investment as soon as you find tenants. Then you can take the money you earn and reinvest it in your property or use it to pay off other bills and debts.
4. FHA Loans
FHA loans give people who don’t have the greatest credit the chance to become homeowners. If you decide that investing is for you, an FHA loan could be the perfect way to finance the purchase.
5. Changing Demographics
According to a report produced by the Research Institute for Housing America, homeownership among immigrants nationwide is expected to account for 36% of housing growth over the next decade.
Finally, if you need some help…
Here are a few sources:
- The Deal Analyzer
- How to Analyze a Deal With The Deal Analyzer
- Investing In Real Estate With Your IRA
- How to Evaluate A Real Estate Investment Deal in Cape Coral (resources)
- Fortune Builders
Your first home should be an investment property! We can help! Sign up to be on our VIP Buyer’s list and be the first to know about deals available on our SWFL and Chicago area properties!