Should You Purchase That Rental Property Before Year End?

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Should You Purchase That Rental Property Before Year End?

With the hustle and bustle of the holidays now in full swing, it is likely that you have a fairly full calendar for the next couple of weeks. Yet, while most businesses are slowing down and tying up Should You Purchase That Rental Property Before Year-End?loose ends before the clock strikes midnight on the 31st, if you’re a real estate investor, you may want to consider adding one more item to your to-do list right now – and that is buying a (or another) rental property.

Real estate investments can provide you with cash flow and the opportunity to increase your wealth. And what they also offer is the ability to deduct mortgage interest that your tenant is paying you, as well as expenses like maintenance, repairs, homeowner’s association fees, and the cost of running your real estate business.

There could also be some additional incentive for you to move forward with a purchase before the end of the year. That is because property sales tend to slow down significantly during the holiday season, which means that sellers may be more apt to consider the offers that come in.

If you don’t want to add ongoing activities such as additional property maintenance and tenant dealings to your calendar for 2017 and beyond, the good news is that you can hand these duties off to a property manager. This can allow you to still reap the benefits of owning more units, but without the added time commitment.

But not all property management companies are created equal. For example, having a property manager that will not only take care of your real estate investment, while at the same time offer you additional details on how to maximize your properties for tax purposes, can provide you with added benefits. For more information on working with the right property management team in Orlando and the surrounding area, Contact Us.

2016-12-23T10:09:33+00:00 By |Advice, Investing|

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