Date Archives: August 12th, 2019

While some people buy homes as investment property to supplement their income, others are making it their sole source of income. Additionally, income-earning home purchases are taking on different forms as homebuyers are becoming more creative with exactly how they use their new digs to gain wealth.

With so many competitive South Bend homes for sale, there's no doubt that there's an income-earning home just waiting to be purchased, but when should you consider an income-earning home or investment property? Let's take a look.

• Rental Property
  Rental property is probably the number-one way buyers are getting into income-earning homes. In relatively high turnover areas such as large cities and areas near colleges, rental property can be a wise long-term investment for the savvy investment property owner.
  
  Unfortunately, many rental property investors initially forget the fact that with rental property comes a number of issues, including finding renters, upkeep, maintenance, and making sure bills are paid, all while realizing an income. If you're looking to purchase strictly for rental property, make sure you establish a business entity and speak with your CPA or financial advisor first.

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