Investment Properties & Second Homes - MoneyTips

How To Find Investment Properties: 5 Proven Strategies

MoneyTips Writer — Wed, 04 Oct 2023 14:53:32 +0000

Investing in real estate can sound like a great idea in theory. The idea of a passive income stream coupled with an appreciating asset is certainly tantalizing. In practice, the trick lies in finding the right properties to invest in. To help you in your search, we’ve compiled five proven methods for how to find...

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What To Know Before Buying a Flipped House

Josh Richner — Mon, 19 Dec 2022 17:57:35 +0000

If you’re interested in buying a flipped home, there are a few things to consider before diving in. Knowing what to look for in a flipped house can mean the difference between buying a real-estate regret and buying a home with instant equity. This article will discuss what to look for in a flip house...

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A Guide to Buying a House With an LLC

Jonathan Pressman — Mon, 31 Oct 2022 16:27:26 +0000

While most people buy a house under their own name, there are those who choose to purchase real estate with a Limited Liability Company (LLC). Buying a house under an LLC is something you might consider if you want to limit your liability exposure, conceal your identity as a homeowner or separate your business and...

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What Is a Life Estate?

Jonathan Pressman — Mon, 24 Oct 2022 18:19:00 +0000

This may not be a universal anxiety, but most of us don’t like to think or talk about dying. It can be an undeniably uncomfortable topic. So we’re going to focus on our legacies. For some of us, there is comfort in knowing we can leave behind property for our children or relatives to use...

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How Much Is a Down Payment for an Investment Property?

Jonathan Pressman — Tue, 18 Oct 2022 13:01:55 +0000

If you’re thinking about generating rental income by purchasing an investment property, you’re probably wondering how much money you need for the down payment. Though the process of buying an investment property shares some similarities with buying a primary residence or second home, it’s important to understand the differences – like the down payment requirement....

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The Pros and Cons of Buying a Lake House

Jonathan Pressman — Tue, 27 Sep 2022 17:32:37 +0000

Think of the lifelong memories you’ll create with friends and family on a lakefront property with a scenic body of water in the background. The memories will be priceless, but the waterfront property will have a price – and the price will be hefty. Whether it’s your long-awaited primary residence, a vacation home for weekend...

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Cottage-Style Homes: What You Need To Know

Andrew Paniello — Mon, 22 Aug 2022 17:52:19 +0000

We live in an era when space is at a premium. So these days, many aspiring home buyers have started considering a new option: investing in a smaller home. Due to their relative affordability and sustainability, cottage-style homes (and other small homes) have become a popular option despite their limited square footage. For some buyers,...

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Understanding Schedule E Tax Forms for Rental Supplemental Income and Loss

Andrew Paniello — Fri, 15 Jul 2022 15:05:54 +0000

Owning a rental property is an effective way to generate a secondary income. When managed correctly, rental properties can generate consistent monthly cash flow while appreciating in value over time. Although income earned from a rental property ownership might be a little different from income earned in a typical job, you can expect both kinds...

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Rental Property Depreciation: What Is It and How Does It Work?

Andrew Paniello — Thu, 23 Jun 2022 15:33:20 +0000

Owning a rental property is a popular strategy for creating a secondary income. When managed correctly, a good rental property can help you generate regular monthly cash flow and build equity over time. Additionally, several tax benefits come with property ownership, such as the possibility of writing off depreciation. Managing any sort of rental or...

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Can You Deduct Mortgage Interest on a Second Home?

Josh Richner — Mon, 13 Jun 2022 16:28:23 +0000

The mortgage interest deduction is a popular tax break that allows homeowners to write off the home loan interest they pay each year. But what about considering the deduction for a second home? What qualifies for the mortgage interest deduction? And more importantly, can you deduct mortgage interest on a second home? The short answer...

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Can a Second Home Be Considered a Primary Residence?

MoneyTips Writer — Tue, 07 Jun 2022 20:04:03 +0000

If you thought buying your first home felt like one of the biggest financial moves of your life, you may have even more to think about if you buy a second home. In particular, you may be wondering: Fear not. This article will help you answer these questions so you can feel more confident in...

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What Are Different Types of Real Estate Investments?

Rachel Rose — Tue, 10 May 2022 19:34:19 +0000

Real estate can be a very lucrative investment – and it doesn’t have to be hard. Being a real estate investor doesn’t always require a great deal of financial commitment upfront, and you don’t always have to deal with tenants. Understanding your options to make money in real estate is the first step to exploring...

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