3 Benefits of a Long-Term Rental
3 Benefits of a Long-Term Rental Investing in real estate is a great way to develop your wealth and financial future. As a real estate investment, long-term rentals have three key benefits that make them great for first-time investors. Rental property values tend to rise with or beat inflation. This is key to any investment–you need to make sure that you get out what you put into it! It’s also critical that your investments beat inflation. Because property values rise over time, your investment will beat inflation rates. When you sell the investment, you get the money that you’ve paid into it back–plus the appreciation in value. Additionally, when you want to sell your rental investment, you should be able to sell it easily since your rental is in a place where people want to live. Rentals generate a second stream of income. A long-term rental presents the opportunity for practically passive income. Once you have your rental up and running, you get a check in the mail each month from your tenants for basically no work on your part. As a result, you get a stable, second stream of income on a monthly basis from your investment in addition to building equity–something traditional investments don’t do. Like property values, the amount of rent you can charge goes up over time, meaning that your income stream will increase. Plus, long-term rentals can be easier to handle than short-term or vacation rentals. Long-term rentals also aren’t subject to “vacation season,” which means that you get to have a steady stream of income year-round. Rentals offer tax benefits. You can save a lot of money during tax season because you can deduct expenses for your rental. The expenses you can deduct include owner and operator expenses and depreciation. Then when you go to sell your investment, you can use the capital gains tax deferral and keep your investment money going. Long-term rentals can be a smart way to develop your investment portfolio and start investing in real estate. Want more information? Contact us today!
The How and Whys of Investing in Real Estate
Tips to Lower Your Electric Bill
Tips to LowerYour ElectricBill Right now is the perfect time to lower your electric bill, and I’m sending you the best tips on how to do just that! As energy costs just keep rising this year, it’s smart to conserve that energy and save those dollars. It’s a win-win situation for the environment and your wallet! Tip 1. Install dimmer switches: Not only do dimmer switches add a more cozy ambiance to a room, but they also conserve energy by decreasing the amount of electricity used. As an added bonus, buyers love to see dimmer switches, and they can help your home feel more updated. Tip 2. Install ceiling fans: Ceiling fans increase air circulation in a room, which is obviously great for the summer to get some much-needed breeze going. But did you know that ceiling fans can reduce heating costs in the winter, too? If you switch the way that the fan turns, it will push the hot air down into the occupiable space, making the room feel warmer. As a result, ceiling fans are definitely worth the cost and time to install. Tip 3. Change filters regularly: If you have central air, this is a big one. When your filters get old and full of dust and debris, they make the return vent mechanism work harder to get the same amount of air into the system. As a result, more energy is used. Avoid this by setting a reminder in your phone or your calendar to change your filters regularly! Tip 4. Schedule yearly HVAC maintenance: Keep your system working at its best and most energy-efficient by having maintenance done on an annual basis. In addition to keeping things running smoothly, you’ll also extend the life of your HVAC system and catch any problems early on. Tip 5. Switch to LEDs: LEDs last forever, reducing the amount you spend on lightbulbs, and also use way less energy than incandescent or CFL bulbs. You can also get them in many different light temperatures so you can customize the look of your rooms when the lights are on. Win-win! Tip 6. Add landscaping for shade: Increasing the shade around your home can save you a surprising amount of cash in the summer months in addition to upgrading your curb appeal.It only takes a little time and effort to lower your electric bill and save energy as these tips have shown. Making small changes like these definitely adds up over time and will help you save money on your electric bill!
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