Have you dreamt of becoming a real estate mogul? There are many benefits to owning rental properties according to The Real Deal in Real Estate Pros.

  1. Tax deductions. If you receive rental income, you may be able to deduct mortgage interest, property tax, and home repairs on tax returns.
  2. Supplemental income. Imagine having an extra $1200 in your account each month. This income can offset other expenses of owning more property, and help you pay off your mortgage.
  3. Low risk investment. The stock market is volatile. Investing in property is more stable. There will always be a need for housing and eager renters.
  4. Allows you to hold onto property you don't want to sell. If you're upgrading from your starter home to a larger home, but think you may eventually want to move back to something smaller, renting out the first place is a great option. You can make the adjustments you want between renters, and move back in when the time's right.
  5. Property value increases over time. This allows you to make a greater profit the longer you rent out the home.

This article is sponsored by The Real Deal in Real Estate Pros. Contact them for your buying and selling needs! Additional info supplied by landlordology.com

For more great real estate tips, follow Great Day Washington on Facebook, Twitter, and Instagram.