Investing in real estate is not always glamorous but is a good way of creating wealth. As an entrepreneur, you need to find a business that gives good returns that are worth your investment. Here are five prominent gurus you will need to talk to when it comes to real estate investment in San Diego.
• Alan Hamrick who specializes in condominiums
• Than Merrill
• Mr. O’Byrne
• Drea Rose
• John Goodell
Here are reasons why you need to consider investing in real estate.
1. Cash flow
The cash flow from real estate is stable, and you can easily predict it as compared to other forms of businesses. The cash flow provides ongoing monthly income. Most investors use income from real estate property to build other properties, building homes or travelling to holiday destinations.
2. Tax benefits
The cash flow you generate from real estate property is not subject to employment tax. The government also offers tax benefits to property owners including lower tax rates for properties with long-term profits and depreciation benefits.
3. Loan pay down
If you buy rental properties using a mortgage, you need not worry about repaying the loan since your tenants will be paying the mortgage. They pay through their rent on monthly basis. It increases the net worth of the investor monthly.
4. Access to credit
The income you generate from your real estate property gives you access to more credit. Financial institutions will lend money to people who have more income; therefore, property investors are at an upper and on that. That income opens broader doors to credit lending doors.
5. Leave a legacy
You can will real estate properties to family members after you pass on. Leave a legacy for your kids by investing more and more in real estate industry.
6. Real estate is a forced retirement plan
When you buy a rental property, you get the commitment to maintain it regularly. You will be grateful in future when they start generating enough cash because you will have wealth in your retirement age. If you want a peaceful retire, consider investing in real estate in San Diego California.
Factors that influence your home’s resale value
If you are thinking of retailing your home, you need to understand factors that will determine the selling price in San Diego California.
The location of your home will significantly affect the price at which you are going to resale your home at because the location is vital. An investor who is looking for a home to buy will consider the quality of schools around your home, social amenities and the community. Size and layout of your home
A large home will cost higher than a smaller one. An open-concept design makes a home spacious and more preferred to other home designs.
Age and condition
When selling your home, ensure your home is in good condition especially if it is old. However, old houses are cheaper than new ones because of the technology used.