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About the Chesapeake, Virginia Beach and Norfolk, Virginia Area
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Investment Real Estate >Retirement and the Second Home
Buying a second home as rental property makes a great centerpiece to your retirement plan. It forces you to make regular savings in the form of mortgage payments that become your equity.
You only need cash for the down payment, and you should make sure that your monthly rental payments will cover the mortgage and any additional expenses. This is a real possibility if you buy the right house at the right price because a good single-family house should always stay rented. Your investment money is subject to less income tax, and the interest and property taxes may be deductible.
Housing has appreciated in value all over the country in recent years, making a second home an important hedge against inflation. Most experts predict that interest rates for fixed-rate and adjustable mortgages should remain in single digits for the foreseeable future, so it should be easy to acquire financing with a small down payment.
Call an agent with your real estate questions. They have helped hundreds of people to sell their homes and properties--and to purchase the home of their dreams.
Mike Narlis William E. Wood & Assoc. 128 Battlefield Blvd. North Chesapeake, VA 23320 757-373-5934 Fax: 757-410-3475 mikenarlis@NUMBER1EXPERT.com
Born and raised in the Hampton roads area I know the area well and having kids I understand the stress a family faces finding the right home in a neighborhood and school district that meets their expectations.I hope to exceed your expections with the work I do for you, and I also want to thank my past clients for their referrals,which to me means I did have a positive impact on thier decesion to use my services, and I hope to do the same for you.
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