Renting to Retirement
Investing in your future should start early. But experts say it’s never too late to start saving. Besides the usual 401K or IRA, real estate may be a wise choice. Why should you invest in real estate to retire?
Investing in real estate is relatively low risk. The income generated from owning a rental property typically covers the cost associated with the investment. This is called principal protection. It’s a great way to keep the cash flow coming in during retirement.
With the unpredictability and fluctuation the market can experience, real estate investors have more control over their investment. The property owner can make changes they see fit to help improve the value of their investment and the income brought in each month.
Before sinking your hard earned money into a rental property investment, there are several things to keep in mind. Look for a solid structure, with minimal repairs. It needs to be in a great location. When finding tenants, be sure you’re dealing with people who will pay their rent and on time. Set the monthly rent at a rate that will at the minimum cover the cost of the mortgage.
Going it alone can be a risky move for some people. That’s why there are professionals who can help with the process. An attorney can be used to look over the lease before it’s presented to the tenants. We can help with the process from start to finish. Contact us at 618-988-0659 or email if you’re interested in investing with us.