Owning your own home is just the first step to building your real estate portfolio and creating wealth. If you’re thinking about taking that next step, here are some reasons why 2021 is a good year to invest in real estate.
Low Mortgage Rates
Mortgage rates are still at a historic low, so investing now could save you money compared to potential rate increases in the future. This means lower overhead costs so that you can maximize your return on investment.
Vacation Rental Demand
Road trips and social distanced vacation homes are popular options for those who don’t want to hop on a plane or visit a resort during their time away from home. An investment property in a popular vacation destination can be a great source of income.
Buying investment property is all about securing your family’s financial future. Real estate provides passive income, tax benefits, equity as you pay off your loan, and can appreciate as the value of your home rises. Real estate is a great investment to hold long-term so that you can call on it when you’re ready to retire.
A 4-plex is a great investment for most anyone. A first time homebuyer can buy a 4 plex, live in one unit and rent the other 3 units. Perfect way to get started on your real estate investing goals. Typically a bank will require 20% down for a multi unit property. Steve Prescott has this 4-plex listed currently.
If you know someone who is interested in learning about investing in real estate, let us know. We’re here to help. In the meantime, we hope you have a happy and prosperous year!