Times are tough right now. Louisiana is currently in the midst of an unemployment crisis, and you may feel like your pockets are tighter than ever before. Your work may have closed, leaving you strapped for cash. Your retirement plans may be in tatters, leaving your future uncertain. Whatever your situation, one thing is for sure – we all want more money in our pocket.
But where can we get this extra cash? The answer is investing.
Given the current situation, you may think now is a difficult time to invest. This is somewhat true. There is so much uncertainty about the future ahead that investments like stocks have become increasingly volatile and unpredictable. But one form of investment has remained remarkably consistent and has grown in strength despite the damaging effects of the pandemic. Coming together with other individuals to invest in real estate makes it affordable for virtually anyone. Make sure to really consider real estate crowdfunding pros and cons before making any decisions.
Investing in real estate can be one of the safest and best investments you can make. There are so many reasons why investing is ideal that it would be impossible to fit into one list. The bottom line is real estate is one of the top 10 creators of billionaires. Billionaires! There’s so much money to be made in real estate that financial freedom can be within your grasp. This resource can help you identify the key points in finding the best land for your property investment. It isn’t a get-rich-quick scheme, though. Investing in real estate requires patience and market research to maximize profits. Only the best quality real estate services stick to these concepts that are key for success.
If this sounds good to you, and you are interested in starting your investment journey, here are three of the best reasons you should consider when investing in real estate, whether that’s Townsville apartments, houses or land. If you want to learn more about real estate or expand your property portfolio, check out some of the free guides available from property company RWInvest.
1. Frequent income
We’re all familiar with the concept of rent. Handing over the bulk of your monthly income to a landlord to stay in a property can be tiresome, but imagine flipping it the other way round.
Rental income is excellent for landlords. Earning thousands per month with little to no work sounds like a dream scenario, but it can be easily achieved. The current average rent for an apartment in New Orleans, as of October 2020, sat at a comfortable $1785. That is a staggering 7.73% increase compared to 2019.
This means there can be more money than ever going into your pocket. And with growth set to continue over the coming years, you can be comfortable knowing you will receive regular income.
2. Property prices regularly increase
Another reason why real estate investing is safe is that the value of property frequently increases. This is known as capital growth and means later down the line; you can sell the property for a massive profit. In Canada, condos in cities and towns will only increase in value. It’s good to invest in areas like Scarborough as well, as options like these will be far more valuable in the future.
In the USA, house prices grew by 5.7% in June 2020 compared to 2019. On average, the growth rate has sat at 5.3% year on year. Imagine how much a property could be worth in another two or three decades. Investing in a home, like reno luxury homes, will only accrue value over time. Another great investment option to consider are the new construction homes in Chesapeake Va.
That’s why real estate is an ideal long-term investment. You can rack up monthly income for the foreseeable future and then sell the property for considerably more than you paid for. It’s a win-win.
And with the average house price in New Orleans sitting at $167,100, the access point is affordable, meaning you can get on the property ladder far sooner.
3. Helps with retirement
Retiring is something many of us work for. The idea of being able to sit back, put our feet up, and know our finances are completely safe is a dream.
The key to achieving this dream is saving up enough money to replace the income from your job. It’s easier said than done, though, of course, but property investment can help you move one step closer to this.
For every property you purchase, replacing your income entirely becomes more of a reality. Therefore, it is vital to build a thriving investment portfolio to plan for early retirement.
