Opening the Door to Investment Property
photo © 2009 Rich Brooks | more info (via: Wylio)
I’ll be honest. Investment property is a new area for me. I have bought 3 homes and sold 2, but those were all my primary residences at the time. The closest I’ve ever come to investment property was being a tenant during my college years.
Given this extremely limited background why am I looking to purchase an investment property?
1) Diversification – I have stocks, options, mutual funds, bonds, CD’s, and money market accounts, but my real estate exposure is limited to my house. With the real estate market flat and mortgage interest rates still hanging near all-time lows, I think now is an ideal time to explore this possibility. Additionally, I will have additional cashflow starting this summer when my son moves from a private preschool to the public school system.
2) Learning – I can read any kind of book I like on investment property, but there’s no way I can truly learn what it’s like unless I do it myself. I’ll probably read some of those books along the way, but I learn best in a first hand way.
It’s going to be an interesting ride, and I invite you to join me.
To see all the related posts in this series, simply click the “investment property” tag.