Is buying a rental property a good investment?
I start school in feb for respiratory therapy and after that I planned on being a traveling respiratory therapist. But since all my expenses would be paid for by my company. I think a rental property could be a good investment? I am just looking for investment options for extra money? Plus I can always live in the property if I decide to stop traveling
School is 21 months?
actually 15 months but I decide to opt for advance training because that is extra money in your salary.
It could be, as long as you get a tenant in it. Also, as long as the rent is more than the mortgage payment, and as long as your tenant doesn’t tear the place apart.
An investment property is a great idea for you. Just be sure to do your homework with a licensed Realtor. A Realtor should be able to help you determine the market strength for rental property in your area. This should give you a good ball park figure on what you can charge for rent. Making a profit on rental payments is not really the most realistic notion to go into this deal on unless you have hard cash to buy the house free and clear. You want to buy a home in an area with a strong appreciation rate. For example San Antonio TX properties are gaining 6% value per year even with the “bad” market conditions nationwide. Add a good appreciation rate to the tax benefits of owning a home and you can increase the take home pay on you monthly paycheck.
Krishna Perkins Realtor
http://www.sahomelocator.com