There are huge tax benefits to owning income property. You get all the same deductions (mortgage interest, property taxes, closing costs) as someone who owns the home they live in, as well as many more that come along for the ride (depreciation, insurance, maintenance repairs, management fees, etc).
Your tenants are paying down your mortgage for you and Uncle Sam allows you to depreciate the property on your tax returns, even though it is likely to go up in value over time.
A properly structured deal will ensure that you are putting money in your pocket each and every month that you own your income property.
Real estate is something that you have complete control over. You decide what to buy, who to rent it to, and when to sell. How much say does Apple give you in the next iPhone when you own their stock?
If you purchase a multi-unit property (duplex, triplex or four-plex), you can live in one of the units and rent out the others.
It is great to be able to provide other people with a nice place to call home.
Purchasing an income property is a bit more complex than buying a home to live in, especially if you are a first time home buyer. It can feel a lot like drinking from a fire hose. We will save you time, stress, and money with our easy-to-follow home loan process by keeping you focused on just the next step.
The first order of business is getting you pre-approved for financing. Step one is to complete a loan application. We can do this over the phone or online. We will contact you once the loan application is complete to take the next step.