INVESTING IN REAL ESTATE
By Steve Bayliss
Coldwell Banker Bullard Realty
For most Americans, the home they own and live in is one of the best investments they ever made! Tax benefits and appreciated values have traditionally made residential real estate a sound vehicle for creating wealth. So why do most of us only own one property?
There are many reasons, but let’s just say that not everyone has the time or the inclination to be a landlord. For those who are so inclined, some of the best opportunities exist right now to buy rental houses at bargain prices that may never be seen again. For the rest of us there’s a great alternative investment opportunity that is often overlooked. It’s the vacation home.
One of my favorite real estate investments is a second home. This could be a house, condo or other property that your family uses personally, and rents out for part of the year to make enough money to cover most of the monthly payments. A vacation home can be a great investment! Imagine owning your own retreat where you can get away from the presures of everyday life. Just envision a place in the mountains or at the beach where the family and friends can enjoy vacation time while you enjoy the benefits of ownership. If it sounds good, now is the time to act. It all starts with a simple plan. First, you’ll need to identify the type of property and the location that will best serve your needs and wants. Next, review the numbers and tax consequences with your accountant and you’re ready to make it happen. Be sure to get a broker referral from your Coldwell Banker Bullard broker. By referring you within their worldwide network of qualified agents, you will be assured of a smooth transaction. Now enjoy your vacation home and watch your investment grow.
Need more info on investing in real estate? Visit www.cbbullard.com and ask a broker for help. Tell us what you need and it’s as good as done.
(Steve Bayliss is managing broker of Coldwell Banker Bullard Realty’s Jonesboro/Clayton County office. This column originally appeared in the “Bullard Blogâ€?, a regular feature of the company’s website at http://www.cbbullard.com/. He can be contacted at 770-477-6400, or email sbayliss@cbbullard.com.)
Add comment June 27th, 2007