Estate: Your investment
your investment in Real Estate?
In many cases selling your
home may not be the best option. You may be able to convert your home into an
income producer. You could benefit from the positive cash flow while at the same
time have the debt service and equity build up on your property paid for by
First, seek the advise of
professionals. Be aware that many lending institutions consider rental income
when writing loans for the purchase of a new primary dwelling. Speak with your
accountant or financial advisor about the financial benefits and hazards you may
incur by converting your home. Also, speak to a professional property manager in
your area about your homes true rental value, current market conditions and
common expenses associated with owning rental property. Once you have all the
facts, the correct decision for your needs can be made.
You may find that selling your
property is still in your best interest. This does not mean that it should not
be used as an income producing property until such time as it sells. You may be
in a position which affords you the opportunity to wait for a buyer willing to
pay fair market value for your home. For most people, the prospect of
maintaining two mortgage obligations is a frightening one.
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