Are you looking at a better return on your hard earned investments? There are currently 21 homes in Defiance, Ohio that are currently for sale for under $40,000. Some of these are homes that were foreclosed upon, some are heading for foreclosure and others are just available because someone needs to sell them. With this many homes available, the opportunities for someone who is tired of seeing their 401K or their stocks continue to lose value are limitless.
Have you thought of the return you could have on owning a property as a rental? The Defiance real estate market is currently demonstrating a strong home rental market which leads directly to great returns on rental homes.
For instance, if you were to purchase a 3 bedroom home for $30,000 you could potentially rent it out for anywhere from $500-$650 a month. Let's pretend you were to get $550 a month. Let's also assume the home has taxes around $800 a year and that insurance costs $600 a year. That would mean you would clear $433 a month after taxes and insurance or $5,195 a year. That's a 17% annual return on your $30,000. Of course, in this example, we have left out some obvious factors such as vacancies and repairs but you can get a good idea of the possibilities.
Not only can you potentially pocket a monthly income, but you can also gain equity in the home as, historically, home values have gone up over time. Home prices are currently low, but should eventually rise again thus creating a better equity position.
If you've been thinking about a better investment area, then give us a call and let us help you find an investment property for you.
Scott
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