When it comes to investing your money, there are tons of options. Even within the realm of investment real estate, investors have the option to wholesale, flip or rent. We are, of course, partial to rental property, and here are a few reasons as to why…
- Leverage – Real estate investments allow you to purchase with leverage (i.e. use borrowed money toward the purchase of the investment). You don’t need 100% of the purchase price on hand to make the investment as you would for stocks and other financial products.
- Predictable – High reward investments are often high risk. Even flipping property can be risky business. Rental property produces relatively predictable income, especially if it is in a desirable market like Charleston. Around 42 new residents are moving to Charleston every day.
- Possibilities – A rental property doesn’t have to stay a rental property forever. You can ultimately sell it, use it as a vacation home and/or make it your primary residence.
- Earnings Potential – In addition to rental income, rental property owners typically benefit from increasing property value and tax benefits (deductions, capital gains, exempt from self-employment/FICA tax, etc.).
- Freedom – Hiring a property manager frees you from the most time consuming aspects of being a landlord, and allows you to maintain control even if you can’t live near your rental property.
Interested in purchasing rental property in Charleston?
We are well connected to some of the area’s best real estate professionals and would be happy to make some recommendations. Contact us to learn more.
