There are many ways to benefit from building or purchasing property solely as an investment. Not only will you receive monthly rent, but there are also great tax incentives. If you do your research and choose the right location, your new asset can start giving back relatively quickly.
Having tenants means receiving regular income. You can use the money to offset costs of repairs and the general upkeep of the building.
Another bonus is tax breaks. Rent is deductible against the interest of the mortgage, property taxes, renovations, insurance, and utilities.
Of course, there are many responsibilities that come with being a landlord. You’ll need to ensure that the property is maintained and that your tenants are reliable.
If you’re ready to build a second home or income property, Sunset Homes is here to help!