If you’ve been thinking about investing in Lake Norman real estate, we should schedule a time to chat. I can’t write enough about the many advantages to investing in local real estate. Owning rental properties is a great way to expand your income, build wealth for your future, and invest in your community.
The number one tip I give to those looking to invest in a rental property is this: find a good location. If a location is good, you will always have tenants willing to live in your rental properties. That’s why the area surrounding Lake Norman presents so many great investment opportunities.
It has rural charm, a beautiful lake filled with recreational opportunities, and some of the friendliest people you’ll ever meet. Plus, most of the communities in this part of North Carolina are less than an hour to Charlotte, the state’s most densely populated city. This makes it ideal for many commuters who want to be a convenient distance away from work, but don’t necessarily want to live in a big city.
What are some other reasons to invest in a North Carolina rental property? Here are my top three.
It’s a Great Way to Supplement Your Income
The great part about a rental property is that it produces money for you. If you pick the right location, and invest a little time and money into its upkeep, you can build passive income over a long period of time.
This means more money for savings, emergencies down the road, and other necessities!
The Tax Advantages
When you own a rental property, there are plenty of tax deductions available to you! As a landlord, you can file deductions for the interest on your property and any repairs you’ve had to complete, as well as the premiums you pay for any of your insurances.
Many landlords aren’t aware of just how many tax deductions they’re able to use. If you’d like the full list of deductions, let’s set up a time to discuss.
Your Property is Likely to Appreciate in Value
While appreciation isn’t guaranteed (nothing in real estate is, unfortunately), Lake Norman’s location grants a stability to properties in the area.
Real estate here tends to be highly sought-after by buyers and investors. This means it’s likely that your investment will increase in value as time goes on.
Ready to Begin Your Investment Career?
I’m here to help. Give me a call today to learn more about your investment options in the greater Lake Norman area.