Now is such a great time to buy a home in Lubbock. There are many great homes available in all price ranges. As a matter of fact, I have to curb my enthusiasm when I see some of these homes...or else I'd be making an offer myself. And except for a bit of wind the past couple of days this is a beautiful time of year to shop for your dream home. The air is crisp and clean and the temperatures are moderate.
Is anyone out there investing for the future? It is no secret that the stock market has been tricky since 2001. I still have investments there but rental property is where I want to invest now. In Lubbock real estate some entrepreneurs might can still find some good properties to flip. But I think that buy/hold might be more the order of the day.
Ka-ching #1 - As months and years go by your properties value will increase. That is a no brainer unless an investor let's his/her property fall into disrepair.
Ka-ching #2 - Tax advantages and legitimate deductions increase an investor's return on their money.
Ka-ching #3 - Your renter is making your payments and you are putting extra money in your pocket each month. Well, there is a catch. Investors purchase an investment property at the right price...one that will allow the rental income to exceed their payments.
If done right, investing in rental property can be a win-win. Providing a nice return for the investor and a nice place to live for those still renting. And you know...if you are a real estate agent this can be a win-win-win. When your renter is ready to purchase their first home, you are there to help them.
Suggested Reading -
Robert G. Allen's Creating Wealth