Buying an investment property
As an Owner of 2 investment properties, I firmly believe there is no better path to increasing your wealth than owning investment properties. It’s an excellent long-term investment and with Austin rents continuing to increase, now is the perfect time to purchase an investment home. Below is a video I made with some tips on how to pick the right property:
It is important to note that investment properties do require a 20% down payment, unlike a traditional owner-occupy home where you can get $0 or low down payment options. There are different ways to structure your loan and I have connections with lenders experienced with loans for investment homes.
Since you are buying this property with the goal of appreciating wealth, it is critical that the property “cash flow.” In other words the monthly rent you receive should more than cover your monthly mortgage. I have an extensive spreadsheet I share with my investment clients which clearly indicates the minimum rent required for various monthly mortgage amounts.
Do you have questions about being a landlord? Are you interested in learning more about which Austin locations are best for buying an investment home? To learn more, just submit the form below and I’ll get back to you.