Today I’m joined by a special guest to tell you how investing in real estate can put money in your pocket and help you secure a stronger future.
There are a variety of opportunities in the Central Pennsylvania real estate market for both buyers and sellers.
If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.
If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.
Today I’m joined by a special guest, Alex Manning, to help me go over a few key points regarding investment properties. Alex is an agent in our office who specializes in these kinds of properties.
Recently, Alex told me the easiest way to save for college or retirement. His solution is to move, but not sell your first home. Instead, rent it out to make a profit. Before you move, refinance the existing mortgage into a 15-year one.
This way, the rent will cover the mortgage, taxes, insurance, and most of the maintenance. The tenant pays for everything else.
Think about the following example: You buy a starter home and have a child, and once the child turns three, you move. 15 years later when your child is 18, your home will be paid off and you’ll be left with a nice chunk of change. In fact, the money you earn will likely be enough to pay for all four years of your child’s college.
The best part is that this comes as easily as breathing. It’s something you’ll forget about. Every month the equity grows as the mortgage is paid down, and most years the home will appreciate in value. When someone else is the one making payments on your house, you won’t need to pull any money out of your paycheck, savings, or retirement fund.
You don’t need to sell property to get money out of it.
Another great thing is that you cannot instantly access the money. You can get to it, but the slight delay will prevent you from acting too impulsively. We all know how hard it is to stop yourself from dipping into your savings. What’s better than having someone else putting money in your pocket?
If you’ve been wondering how you’re going to pay for your children’s education and scholarships aren’t an option, think of investment properties as a way to help. A good rule of thumb is to invest in one property per child. Using equity from one property will make it easier to make a down payment on the next. This process is called leveraging the property.
You can also use these funds to help you grow your retirement fund, as well.
Always keep in mind that you don’t need to sell a property to get money out of it. In fact, it’s better not to.
This may sound like a lot to take in, but thankfully Alex is happy to lead new investors through each and every step. He would be more than happy to guide you through the process.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
If you’ve been wondering how you’re going to pay for your children’s education and scholarships aren’t an option, think of investment properties as a way to help. A good rule of thumb is to invest in one property per child. Using equity from one property will make it easier to make a down payment on the next. This process is called leveraging the property.
You can also use these funds to help you grow your retirement fund, as well.
Always keep in mind that you don’t need to sell a property to get money out of it. In fact, it’s better not to.
This may sound like a lot to take in, but thankfully Alex is happy to lead new investors through each and every step. He would be more than happy to guide you through the process.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
