Whether you are looking for a turnkey rental property or a fixer-upper, there are many options for you to consider when investing in real estate in Erie, PA. To make things a little easier, we have created this first time real estate investor's buying guide!
How Do I Know If I Should Invest in Real Estate?
You Want to Make an Investment
Whether you're looking for a long-term or short-term investment, real estate can be a very good option for increasing your wealth.
What Are the Advantages of Real Estate Investments?
When looking at your investment options, one of your main concerns is finding the balance of risk vs. reward, right? While it is impossible to guarantee that your investments will be an immediate money maker, you can help reduce risk by allocating your investments through various investment avenues. In other words, because events effect the various investment markets differently, one event that causes one of your investments to lose value can increase the value in another investment. Therefore, diversity among your investments is important to your financial success as an investor.
Depending on what type of real estate you are purchasing, possibly an Erie turn-key condo or maybe a REO property, will depend on how much work and time you need to put into the property before it starts making a return on the investment. However, you can be the judge and decide how long you are willing to wait to start making money on your investment property.
Did you know that real estate investors keep more of their income than other business owners? That's right... the government rewards investors and rental property owners. Not only do you not have to claim self-employment tax, you reap other tax benefits, like depreciation and lower tax rates.
What does inflation affect? Just about everything—the price of gas, rental rates, property values... One thing that inflation doesn't affect, however, is your fixed-rate mortgage. So, when your renters are paying more to live in your same home, you'll still be paying the same amount for your mortgage (until, of course, you pay off your mortgage). And when you decide to sell your property... guess what? Property values will likely have appreciated!
We Can Help You Invest in Real Estate in Erie, PA
Managing a property can sometimes be a time-consuming task. Instead of spending your time managing your investment real estate, let us help! We are licensed real estate professionals, with experience handling rental properties. We can do everything from finding a qualified tenant to troubleshooting tenant issues, and everything in between. This allows us to take away the stress and headaches, all while making you money faster. Contact the Marsha Marsh Team today to find out how we can help you achieve your real estate investment goals!