Thought about investing lately? No, not your 401(k) or mutual fund. Real estate. You could become a real estate investor here in the Austin area, and it’s much easier than you might think. Rental properties are evaluated just like any other single family home, and all you need is at least a 15% down payment.
Why is real estate a good idea?
Home values in the Austin area continue to rise. According to the most recent information from the Austin Board of Realtors, the median price for single family homes is 10% higher compared to the same period last year. Can you name any other type of investment that provided such a return? Plus, your equity is secured by a first lien. Unlike other types of investments, your rental property value will never drop to zero!
Get It While the Interest Rates Are Low
Another motivating factor is the current state of interest rates. Interest rates for rental properties have been so low for so long that not only will the rental payment cover the mortgage, it can also cover your property taxes, insurance, and maintenance costs. Additionally, Austin rental rates are on the rise—meaning, not only will your tenants take care of your financing and maintenance costs, but you’re actually making money each month.
Here in Austin, there has been considerable interest in investment properties, and rightly so. The combination of low rates and higher rents make investment real estate a very attractive option. Also, if the property that you buy currently has tenants, the lender can use the rental income to help qualify for the new loan.
Another factor to consider—these low rates are fixed, not adjustable. Therefore, your cash flow, as well as your equity, will continue to grow well into the future.
If you’ve been thinking about investing in real estate here in the Austin area, it’s time to take a closer look. There may never be a better time to buy a rental property than right now.
Interested? Click here to apply today!