Should I purchase an income-producing property?
Real estate investment is probably the best possible investment you can make. Property values may go down over the short term, but as a long-term strategy, real estate is your best bet.
If you’ve ever considered investing in a rental property, this may be the best time ever: low home prices, combined with low interest rates, make it an ideal investment opportunity.
Investment rental properties are relatively easy to obtain—all that you have to do is qualify for a mortgage—but that doesn’t mean that you shouldn’t do a lot of homework before taking one on! Once you’ve located a potential property, you need to find out everything you can about it.
What kind of investment properties are available?
You have to decide what your investment strategy is, and what you’re willing to do. Do you want to become a hands-on landlord, for example? Would you prefer to buy some land that can be developed later on? How about a piece of commercial property?
Your options can include:
- Condo/duplex
- Single-family homes (one to four units)
- Income-producing commercial property
- Fixer-upper
- Short sale
- Foreclosed property
- HUD property
How do I buy rental property in the USA?
You’re not the first person to wonder how to buy an investment home. As you can imagine, there are a lot of differences between purchasing your primary residence and buying rental real estate. For one thing, there’s a lot less emotion involved!
In addition, however, the rules that lenders have for giving mortgage rates on investment properties are different from those affecting people buying primary residences.
The key to qualifying for a mortgage when you’re buying a rental is a substantial down payment. Buying your first investment property can be challenging (it gets easier!) and being able to reassure lenders that you have what it takes to pay back your rental property mortgage
Avrus Financial and Mortgage is here to help you purchase a rental property. If you’re interested in investment property in Georgia, Florida, or California we can help you find the best investor mortgage rates for rental properties available.
Why not give us a call today at 800-741-4004 and ask us how?
