The benefits of turning your home into an investment property. Gain additional monthly income, increase your tax deductions, build your portfolio!
This may not be the age-old question, but it is a question many home owners face when preparing to move out of their current home. Many home owners do not even consider making their homes into investment properties they just assume they have to sale. Some sale because they need the proceeds of the sale of their current home to purchase another home. Others may choose to sale due to the fear of managing a tenant, destruction of their home, or cost of maintenance.
Why you should consider becoming a Landlord.
If you know me, you will know I am honest and the people I know can count on me! I love what I do and am good at it. The proof is in the houses I sale and manage. I take pride in having the cleanest homes on the market. I enjoy selling my owners properties as much as managing them for my landlords. My goal is to make my clients money. Not just to make them the “YEAH” money by selling a client’s home for a positive gain, but to expand their portfolios’ for their future.
When I say “YEAH” money you made when selling your home. I mean you had a $10,000 to $75,000 gain on the property from what you may have purchased it at. That is fantastic but in no time at all it will disappear into one thing or another. I want my clients to win long term. I want you to have a property or properties that increase in value and equity year after year. I want you to have an investment that someone else is paying for. I want you to not only create additional monthly income, but to have those tax deductions that you deserve. I want your tenants buying your investment future and paying your expenses when you retire. Building your retirement plan with investment property is attainable for anyone. I can make that happen for you.
How can you do this?
If you own your home and are moving either by relocation due to a job change or upgrading to a new home that is a great opportunity to get started. There are many options out there the VA is one of them if you are a veteran or military member. With the VA certificate in Nebraska you have up to $484,350.00 to use under that certificate. I personally have 3 VA home loans under my certificate.
Mortgage options are available beyond the VA you just need to talk to your mortgage loan officer. Ask what options are available for you to keep your current home and turn it into an investment property.
What about the risk?
Limiting your risk is key with a good management company! The company you hire should have an active strong placement policy. A company that prides itself on preventive maintenance will increase your rental rates, and keep them at the top of the market value! Communication is a must if you don’t here back from a management company the day you contact them find a new one. Ask about their occupancy rate is key should be higher than 90% occupancy at any given time!
Preparing for risk?
There are many reasons one may have for not making your home into an investment rental property. I do understand all of them, but I want everyone I know or meet to consider the potential they may have by turning their home into an investment property!