So you’re thinking about getting involved in Houston Texas Real Estate Investing but will your Real Estate investment be a passive investment?
In this post we will share with you 3 tips you can use to insure that your Houston Texas Real Estate investment will be 100% passive so you can continue working in your current job while your rental property makes money for you, even while you sleep.
Passive Tip #1 – Purhase a Property with Existing Tenants
Instead of buying rental property that’s vacant or needs repairs you should search for rental properties with existing tenants because the cash flow for those properties is already established and your money can start working for you 24-7.
If you are short on funds to purcahse a propert consider crowdfunding.
Crowdfunding is opening up investing to anyone with a little extra cash these days as regulations change and entrepreneurs take advantage of the expanding marketplace.
Source – abc15.com
Passive Tip #2 – Hire a The Right Property Management Company
One of the big mistakes most investors make when they are just getting started with buying rental property is thinking they can do everything themselves.
Don’t make this mistake! Hire a property management company in Houston Texas immediately when you buy your first rental property because this will save you the time, money and hassle of having to manage your property yourself and you will have more time to actually grow your portfolio.
As an investor and entrepreneur, you should always be on the lookout for ways outside the obvious to improve your return. When using personal funds to invest, the best way to do it is through a self-directed IRA. A self-directed IRA is the same as the usual IRA, however, it allows alternative investments for your retirement savings. By investing through an IRA, you can avoid using your taxed income. Most banks have this option, so it’s best to speak with a financial advisor before diving in head first with this kind of investment — and remember to leave yourself with something for retirement.
Source – entrepreneur.com
Passive Tip #3 – Use The Tax Advantages Uncle Sam Offers You
Last of all, but most important, as you are buying Houston Texas Real Estate you should keep in mind that there’s a lot that Uncle Sam can do for you especially if you have an investment that’s equity structured because will be able to keep most of your income and have cash returns which are tax deferred.
As a rental property owner, you are able to deduct nearly all the expenses you’ll pay to manage your property. Everything from the mortgage interest you pay on the loan all the way down to the paper you buy for your printer (if you are using that printer primarily for real estate investing purposes, that is).
Source – Biggerpockets.com
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