flgaland@gmail.com
    (386) 243-0124

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Should You Invest in a Rental Property in North Florida?

Should you invest in a rental property in north florida - lake city homes for sale

The New York Times recently published a story about millennials investing in rental properties, and some of the things they uncovered were surprising – including the fact that many millennials (people born between the early 1980s to the early 2000s) can afford to buy their own homes and live in them… but they’re choosing to buy houses as investment properties, instead.

Should You Invest in a Rental Property?

Because buying a rental home has its ups and downs, there’s no one-size-fits-all answer on whether it’s right for you.

Pros of Owning a Rental Property

  • Mortgage rates are pretty low at the moment, meaning that you could get a great deal on a rental property
  • If you manage a rental property yourself, you could produce a positive cash flow right from the start (and that means extra income each month)
  • You could be eligible for tax breaks for owning a rental property (but you’ll need to contact your tax adviser for specifics)
  • You may be able to buy a vacation property and rent it out while you’re not using it

Cons of Owning a Rental Property

  • Ultimately, you’re responsible for repairs and renovations – even if your tenants damage the house
  • You may need to come up with a substantial down payment if you intend to purchase a property as a rental
  • You’ll be responsible for finding tenants, checking their credit and references, and collecting the rent
  • Profits aren’t guaranteed – particularly if you have a tough time finding a tenant

Are You Interested in Buying an Investment Property in North Florida?

If you’re looking for an investment property to buy in North Florida, we can help you find one that meets your needs.

We can even search for homes that are seller-financed, which you may find is beneficial.

Call us at 386-243-0124 or get in touch with us online. Tell us about what you need and we’ll make it happen.

 

Posted in: Blog, Buying, Investments

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250 NW Main Blvd #75
Lake City, Florida 32055

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Search Smarter

Did you know the hottest North Florida land for sale often sells within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest land as they hit the market! Simply click the button below and choose the types of North Florida land you are looking for and save your search to start getting alerts today!

New Property Alerts

As a local expert, I also have access to North Florida land for sale before it hits the market and can show you more information that is only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

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