Mutli family homes can provide financial freedom-Taunton MA
Need Income for Retirement, College Tuition or a nice tax write off? Multi-family Homes- Taunton MA
Multi family investment homes this year makes great financial sense. Home Prices are low and interest rates are low.. and finding great tenants isn't nearly as difficult as in the past.
Here's a success story:
Two years ago, I represented a Taunton investor client who bought a 3 family multi family home home for $90,000. It was a disaster! The house needed substantial rennovation. The investor's repair bills totalled over $80,000. She used part of her savings and a home equity line of credit for the entire project. Then she refinanced $170,000 ..by the way, upon refinancing, her building appraised at $250,000..she's ahead already.
The multi family Investment home mortgage payment with taxes and insurance is about $1300.00 a month
Her multi family investment home rents are guaranteed.. South Shore Housing pays her $1500. for one floor and Taunton Housing gives her $1300.
There is one floor that hasn't been rented or rennovated yet.. when this is done, the rent will be approx. $1300.00
So let's look at the numbers:
Mortgage Payment (with Taxes and Insurance- $1300
Maintainence per month $200. ( on the high side)
Current rents recieved $2800
Future rent from unit not finished yet $1300
Total rents $4100.
Less expenses (1500)
Cash Flow $2600.00 per month x 12 months=$30,200..
Can you use an extra $30,000 a year, 20,000 a year, or even 10,000 a year to fund your retirement?
Now just imagine.. if you bought multi-family investment homes every 2 years for the next 6 years..
Now it gets better!!! MORE Tax benefits than the stock market.. Tax write offs: You can write off your expenses including your interest on the mortgage, taxes, insurance and maintainence. You can also take a 27 year depreciation allowance..EVEN MORE MONEY IN YOUR POCKET!
Historically, Real Estate has always been a great way to gain appreciation over time..and real estate NEVER in history has gone down to zero..and multi-family investment homes give you more leverage
Contact your accountant to confirm the tax benefits.
If you or someone you know would like to learn more about long term real estate investing, please call me for a FREE, no obliation consultation ... Lori Lincoln- Investors friend..508-878-0917