Are you Ready for an Investment Property
Owning an investment property may never have crossed your mind. You may have considered investment properties to be a subject for other people to discuss over afternoon business meetings or in evening lounges with cigars. Whether you have considered it or not, take this opportunity to consider it anew.
The American Dream
Investment properties are one of the most common and surest vehicles for building wealth. Owning an investment property, creating passive income, and growing wealth is part of the American dream. Investment properties are a great way to diversify your investment portfolio while creating immediately accessible income. Some investment properties are simply land that accumulates value over time while others are rental properties that both increase in value and provide income. Between land, commercial, short-term, month-to-month, and long-term rentals, there is an investment property to fit nearly any budget and any lifestyle.
Keep the Loans in Mind
For those who are considering buying an investment property with a loan, it’s important to remember that loans for investment properties are different from the loans used for primary residences. Loans for investment properties tend to require a larger downpayment and have higher interest rates. With interest rates as low as they are right now, however, an investment property is still a fantastic way to grow wealth.
Southern Utah is the Place
This is a great area for investment properties. There are many fantastic reasons to buy property in Washington county. One of those reasons is our historically low vacancy rates. Southern Utah is a hotspot for out-of-town visitors and vacationers. With all of our events, location near national parks, and general gorgeous area, Washington County attracts a lot of people so our short-term rentals are in demand. This area is also experiencing major growth and people are moving here in droves. Rentals are in as high or higher demand than affordable homes. People who choose to buy rentals in Southern Utah don’t usually find any difficulty in keeping their properties occupied and keeping a steady cash flow.
There are many great reasons to consider buying an investment property. If you think an investment property is something for you, the first step would be to sit down with a great real estate agent and/or financial planner and determine how to make this aspect of the American dream a reality for you.