Are you thinking about investing in Real Estate, but feel that it is just to expensive? A great way to get into real estate with a lot less expense is getting in to the condo market.
As prices continue to rise along with the interest rates. First time home buyers are priced out of the home market and turn to either renting or buy a condo, As a way to build equity for themselves.
How does this help you the investor? First if you have a condo, you have a great pool of renters, willing to help you pay your mortgage. Then the first time buyers are helping you increase the starting price of condos as more and more people compete for the same inventory.
As your equity in your condo increases, you now can use that equity to buy other condos. Wouldn't you like someone else to pay your mortgage every month and get you one step closer to retirement.
Your saying to yourself that you don't have any money for a down payment. Did you know that you can use your retirement to buy investment property. Talk to your accountant on how to buy investment properties and have any profits earned remain tax free in your retirement years.
After owning 3 or 4 condos you can at that point do a 1031 exchange and buy a plex and have all your money in one spot every month. Then start the process all over again.
For more information on buying condos, 1031 exchanges or buying with your retirement call today.
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