The housing market has been all over the news for the past few years. There are many buyers that want to become homeowners, but are nervous…current homeowners that want to sell but do not think they can get what their house is worth. However, although buying or selling real estate is making some nervous, the numbers truly speak for themselves. Real estate can be a great way to diversify your investment/retirement portfolio. If you can hold onto, and pay off a property in 30 yrs, have the mortgage paid for by your tenants during those 30 yrs., when the mortgage is paid off that is a monthly income when you retire (minus paying the property taxes). There is a lot to consider…do you want to be a landlord? Can you afford a month or two if there is a lapse in between tenants? What is your plan for upkeep on the property? In addition, pairing with a Realtor in the area you want to invest is wise. You can pick their brain about monthly mortgage payments for a certain home, and what their professional opinion would be as to what that home would approximately get for rent. However, you do not have to take my word for it. Do some of your own investigating, crunch some numbers, talk to some friends that have done investing, and see if it is for you. I will leave you with something to think about…I do not think it is any coincidence that some of the wealthiest people in the world made their fortune (or a large portion of it) by dabbling in real estate.
P.S. If you are thinking about investing in the South Jersey area please feel free to give me a call 856-866-2525 (office) 609-760-5874 (cell)
http://www.foxbusiness.com/investing/2012/04/17/should-invest-in-second-house/
DonnaRHomes 