Next up on our Investment Series, some Real Estate ideas to consider! There are several different ways to invest your money when it comes to Real Estate. Here are a few of our favorites.
Purchase a Homestead – Purchase a home and utilize it as your primary residence. If you find a property at a good price that needs improvements, you’ll be able to customize the home to your liking and enjoy it for as long as you live there. When the time comes to sell, you will benefit from the property’s appreciation.
Long Term Rental – Investing in long-term rentals is a great way to grow your portfolio. It is the most common real estate investment for both beginners and experts in the field. Earn a monthly income from renters, which can easily take care of the mortgage, enjoy tax advantages like being able to write off certain expenses, and build equity in the property while someone else is paying off the balance. These are just a few benefits to the “buy and hold” strategy, as some call it.
Short Term Rental – The Air B&B world has been exploding for the last several years. People currently seem to prefer private homes and off-the-beaten path accommodations to busy hotels. We don’t blame them. There is something so charming about staying in a curated, full-of-character home, and the personal touches that short-term rentals offer. Now is the time to jump in if you’re ready to be a Super-host on Airbnb or VRBO!
Raw Land – Like they say about land in Texas (or anywhere, for that matter), “they aren’t making any more of it!” If you have an opportunity and find a piece of land at the right price, the sky is the limit on what you can do with it. Land values are always going up and there are so many ways to use it. Purchase land and hold on to it, improve it with your dream home, or subdivide it.
These are just a few of our favorite ways to invest in real estate. Which speaks to you the loudest? Or do you have another idea that I haven’t mentioned here? Let us know in the comments!