Landlords like Steven Taylor Taylor Equities have made a career out of buying, selling and renting out real estate. Even if you are not interested in becoming a professional real estate agent, there are a number of benefits to investing in property.
Imagine traveling the world, spending time with friends and family, or volunteering for a cause that is important to you, all while the number in your bank account climbs higher. By renting out a property, you can earn a consistent income without reporting to an office each day. If you do work a full-time or part-time job, the money that you take in through your rental property or properties will be helpful in starting or supplementing an emergency fund.
Real estate offers flexibility that few other investments can match. With stocks and bonds, your options are essentially limited to holding or selling. Houses and apartment complexes can be flipped and resold for a profit, rented out, subdivided, and much more. No matter how the stock market or the housing market may be doing at any particular time, your property will be a valuable asset.
IN the United States, you have the ability to deduct many of the costs of maintaining a property from your taxes, including interest on a mortgage, property tax, and repairs (such as fixing leaks or broken parts of the property). You can even recoup the cost of depreciation caused by normal wear and tear, which is typically calculated by using the Modified Accelerated Cost Recovery System (MACRS).
Next time you are reviewing your investment portfolio, consider diversifying by purchasing real estate. People will always need a place to live, and owning property will help you to generate wealth. Be sure to review your options carefully, do market research and invest in a property that is likely to appreciate in value.