Get ready for deductions: management fees, maintenance expenses, travel and legal fees, interest on mortgages paid, and property depreciation can all benefit your taxable situation. Talk to your CPA for more details.
Turn your biggest asset into an income producer by renting it out. While equity continues to grow in your home, you can generate some cash-flow too. That’s the best of both worlds!
Your not on your own when it comes to managing your home. Property Managers like HomeProp do an awesome job of handling the day-to-day management of your rental property, so you can sit back on the beach and relax… or whatever it is you do with your free time.
It’s nice to have money socked away in a diverse portfolio of investments. Include your real estate in this determination. Your net worth includes your equity in your primary residence, and if you turn this into a rental property, you preserve your wealth.
One of the biggest drain on profits from real estate sales are closing costs and commissions. When you don’t sell, you avoid paying these costs. When your margins in a property are tight, this can mean the difference between a profit or a loss on selling your home.