What do 90% of the World's Millionaires have in Common?
They made their way by investing in real estate.
Want to know more?
Here are some facts to know about real estate investing.
1. You need to be in it for the long haul, not the quick return. Although it takes time and patience, real estate values usually increase over time, and turn around a great profit when it is time to sell.
2. The asset itself (property you purchase) is safe and secure. If your investment loses value, which is a rare occurrence, it is usually only for a short period of time. Unlike the dollar, which loses value due to inflation, real estate performs even better.
3. We know that appreciation occurs over time as the market for real estate becomes more saturated, but did you know that you can force the appreciation of your own asset?
By adding improvements to your property you can easily raise your selling price. Adding new windows, getting a new roof, or adding wood floors throughout all are great ways to increase the value of your property.
4. Tax breaks are a plus. Come tax season, you can expect tax breaks because the government views real estate investors as contributing to the development of neighborhoods and society. Expect to write off costs of repairs and maintenance, travel costs associated with your investment, property tax deductions, and any legal or management fees.
5. There are multiple options in getting started in investing in real estate. These include fixing up homes and then flipping them to generate finances to purchase more real estate, or buying up properties with rental income that will guarantee cash flow. Condos near college campuses area a great investment, especially if they are in walking distance from the university. Rents on property increase over time as well, which can lead to a higher cash flow.
Whatever your plans - the team at Metronet is here to guide you through all of your real estate investing needs.
Call us at 718-644-8460