How viable is investment properties as a supplement to retirement savings / income?
Answers | 2
I have worked in real estate now for almost 8 years and both my parents have worked in real estate and mortgage industry for almost 29 years now. With this experience in mind, I can tell you that I personally worked very hard to buy some investment properties. I also worked to ensure I never went above 65% of the value on the property so I would have decent equity in them. I did pay some off finally.
Real Estate is something I understand and am familiar with. Any investment is really a risk but if you do your math and figure out the various costs upfront and then ensure you always set aside your 20% for reserves, you should do well.
I find it a current smart investment as well as a nice solid investment in the future for my kids.
I did a lot of homework before buying my first rental, Including talking to some other Landlords and Management offices as well as friends I found who owned rentals.
Hope the above helps.
Best, Ken - Another Guy in the White Hat
Sun Pacific Mortgage & Real Estate
California Hard Money Broker Serving all of CA since 1988