Purchasing: Investment Property
An investment property is a great opportunity to provide you with financial and personal benefits.
What is considered an investment property?
To begin, an investment property may consist of an apartment building, duplex, single family dwelling. Vacant land, or commercial property. In other words, any property that the owner does not primarily inhabit and can be used for financial gains.
What are these gains?
Some of these gains include the use of said property to obtain rental income that could be used to pay off mortgages. Some investment properties may award you with potential tax refunds.
What must I consider when purchasing an Investment Property?
- Interest rates tend to be higher and require larger down payments
- Must be aware of the financial obligations and expenses that come with having tenants
