Investment Property

In these uncertain economic times there are many people losing their homes. You shouldn't feel bad buying a foreclosed home. It is not your fault they were unable to make their payments. Often a foreclosed home is your best bet, if you have the time to wait to move in, and you have the time to put in a little sweat equity as many foreclosed homes need a little TLC.

We are at or near the bottom in the real estate market. There are many people looking for rental homes, so now is a great time to get one. And don't forget a rental home is a true asset and a hedge against inflation. And if you buy right, like now, you can get a great deal on a home. When I was younger I didn't want a home as I didn't want to be tied down to a place. Now after all these years I realized, you can MOVE at any time and rent your house. When you do this: move out of your house and rent it, your house becomes an asset!

Renting your house, is a wise thing to do as you have someone else paying rent and effectively buying your house for you. In 30 years when the renters have paid off your house, you will own it free and clear. It is at this point that all the rent you collect will be going in your pocket once the mortgage is paid off. Sure you will have some small bills like taxes and insurance, but most of the rent will be yours to keep. And if you get tired of renting your house after all those years, Sell it!

It is likely you will be able to get WAY more than you paid for it. And to top it off renters actually bought you that house. And for years you got to write off the depreciation on your taxes.

Elijah Marks (Kenotech) is a mortgage banker with Virginia Mortgage Bankers licensed in Virginia and South Carolina. Elijah is a mortgage buyer and seller and a real estate investor who owns and manages a small portfolio of real property in Virgina.

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