If you’ve been debating whether or not you should invest in a rental property, then you’ve come to the right place. The answer to that question is YES, you should! Why? Because owning a rental property can provide you with a steady stream of passive income, a net gain when it is time to sell, and a place to live if you ever need one.
This is perhaps the biggest benefit of becoming a landlord. As long as the property is maintained well, you’ll be able to reap passive income from your tenants with little to no effort. Sure, you may have to replace appliances now and again, but even that can be outsourced. Unlike a typical 9-5 job, where you trade your energy and/or brain power for money, rental income comes to you on a recurring basis. Once this financial stream begins to pour in, you’ll see just how profitable rental homes and buildings can be. If you do it right, the money you get from your tenants can go toward the mortgage and your own pocket.
A Net Gain When It’s Time to Sell
Once your tenants have paid either the entire mortgage or the lion share of it, your rental property can be sold for pure profit. Ideally, the house or building will appreciate in value, but if it doesn’t, you can wait until it does. That is the beauty of rental properties in general: you can sell whenever you want! As long as you have consistent rental income coming in, there will never be a rush to put it on the market.
A Place To Live If Needed
Obviously if you have tenants living there, you must respect the terms of the lease; however, if you’ve chosen to rent out individual rooms, you can always shack up in one that’s vacant if you ever need to. Since we live in a world where anything can happen, it’s nice to have this security blanket to fall back on.
Ready to Become a Landlord? It All Starts With The Right Mortgage Lender
Here at Sachem Lending, we offer attractive hard money loans to new and seasoned landlords. Remember, there is no better time to invest than right now! If you want to build wealth the smart way, then contact us today.