We all know we’re going through hard times economically at the moment and that the property and credit markets seem to be reflective of this. Having said this, real estate can still be a great investment and might be a really good way of making money for you in both the short and the long term and many people are still buying property to let.
Why let property?
The beauty of buying real estate to let is that it is particularly cost effective. If you’re able to fill your property quickly you can use your tenants rent to cover you mortgage repayments and you might even be able to generate some income at the same time. Long run, you’ll have a great piece of real estate which you’ll be able to sell for a profit.
What’s more, Santa Clarita is a great place for attracting tenants. Your property might suit anyone, from holidaymakers looking to explore Southern California to longer term tenants looking for a home a outside the city.
What’s are the risks?
Obviously if you’re buying real estate you will bear the financial risk of owning the property and property prices can drop. However, those fabled green shoots of recovery are starting to appear and property prices are likely to rise in the long run.
Of course, if you’re leaving your real estate in the hands of your tenants there’s a risk it might be damaged. However, covering yourself with landlords insurance is a great way of protecting yourself against this risk
Can letting work for me?
There’s plenty of ways to make letting real estate work for you and if you find a property you love it might just serve you well for the future!