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Information For Retirement Planning with
Investment Properties
By Deanna Mascle
While nothing beats a 401k or IRA investment when it comes to
retirement planning, many people are looking into investment
properties as a supplemental retirement plan. We've all heard
stories of people hitting it rich after an initial investment on a second
mortgage, leaving them with enough money to pay off their existing
mortgages and debt. Yet, we've also heard how fickle the real estate
market can be, sometimes stagnating for years at a time. If you're
asking yourself, "Will an investment property be sensible for my
retirement plan?" -- then read on. (continued below ...)
Investment Properties
By Deanna Mascle
While nothing beats a 401k or IRA investment when it comes to
retirement planning, many people are looking into investment
properties as a supplemental retirement plan. We've all heard
stories of people hitting it rich after an initial investment on a second
mortgage, leaving them with enough money to pay off their existing
mortgages and debt. Yet, we've also heard how fickle the real estate
market can be, sometimes stagnating for years at a time. If you're
asking yourself, "Will an investment property be sensible for my
retirement plan?" -- then read on. (continued below ...)
Pros of owning investment properties are obvious. Hypothetically
speaking, imagine owning a six-plex in a slow-changing, yet
prosperous part of Atlanta where you charged each tenant $1,000.
Your monthly mortgage for the building might be $3,000 but you'll
still have that extra $3,000 cushion each month. Another benefit of
property investments is the generous tax kickback you may receive.
If you delight in getting your lump sum tax return at the end of the
year, then perhaps investing and selling properties when you need
that quick chunk of cash is right for you. Also, there's no penalty for
opting out early or age regulations regarding when you can start
using your earnings. You don't have to be rich or super business
savvy to add property ownership into your retirement planning
agenda. It's been dubbed "the equal opportunity wealth builder."
Cons of investment properties include the no guarantee risk. It's
also not a feasible option for everyone because of high transaction
prices. Not everyone has thousands of dollars saved to make a
substantial down payment. Vacancies, bad tenants, maintenance
costs and property oversupply are a few of the disadvantages. Like
any investment, there are many factors beyond your control that
could affect your income. For better guarantees, 401ks or IRAs
should be included in your financial retirement planning.
Your success in real estate investment properties will depend
largely on when and where you buy. Money Magazine reported the
most growth in Panama City, Florida and Washington state -- cities
like Olympia, Spokane and Mount Vernon. Slow-changing but
profitable markets exist in Atlanta, Providence and Albuquerque.
First time investors will want to avoid ex-boomtowns like Los
Angeles, Santa Barbara and Las Vegas, where exorbitantly high
prices make the market unsustainable. While downtown real estate
can be profitable, it's not advised for people who are simply
retirement planning for some supplemental income.
Many couples buy large homes to fit their children comfortably, but
find it's too much space when the kids move out of the house. In
this case, downgrading to a small bungalow or apartment and
letting someone else pay the mortgage is beneficial. While it's not
superior to a 401k or IRA, investment properties are a retirement
planning option that may work for you.
Deanna Mascle http://answersaboutfamilyfinance.biz/
speaking, imagine owning a six-plex in a slow-changing, yet
prosperous part of Atlanta where you charged each tenant $1,000.
Your monthly mortgage for the building might be $3,000 but you'll
still have that extra $3,000 cushion each month. Another benefit of
property investments is the generous tax kickback you may receive.
If you delight in getting your lump sum tax return at the end of the
year, then perhaps investing and selling properties when you need
that quick chunk of cash is right for you. Also, there's no penalty for
opting out early or age regulations regarding when you can start
using your earnings. You don't have to be rich or super business
savvy to add property ownership into your retirement planning
agenda. It's been dubbed "the equal opportunity wealth builder."
Cons of investment properties include the no guarantee risk. It's
also not a feasible option for everyone because of high transaction
prices. Not everyone has thousands of dollars saved to make a
substantial down payment. Vacancies, bad tenants, maintenance
costs and property oversupply are a few of the disadvantages. Like
any investment, there are many factors beyond your control that
could affect your income. For better guarantees, 401ks or IRAs
should be included in your financial retirement planning.
Your success in real estate investment properties will depend
largely on when and where you buy. Money Magazine reported the
most growth in Panama City, Florida and Washington state -- cities
like Olympia, Spokane and Mount Vernon. Slow-changing but
profitable markets exist in Atlanta, Providence and Albuquerque.
First time investors will want to avoid ex-boomtowns like Los
Angeles, Santa Barbara and Las Vegas, where exorbitantly high
prices make the market unsustainable. While downtown real estate
can be profitable, it's not advised for people who are simply
retirement planning for some supplemental income.
Many couples buy large homes to fit their children comfortably, but
find it's too much space when the kids move out of the house. In
this case, downgrading to a small bungalow or apartment and
letting someone else pay the mortgage is beneficial. While it's not
superior to a 401k or IRA, investment properties are a retirement
planning option that may work for you.
Deanna Mascle http://answersaboutfamilyfinance.biz/