In the first part of the 21st century, flipping houses became the hot new investment strategy. Snap up a run-down house for pennies on the dollar, renovate it quickly and sell it for an incredible profit. This made a lot of people wealthy for a long time, but the real estate market has fundamentally changed since those heady days. Now, there’s a glut of inventory on the market, and even the best flippers are struggling. But that doesn’t mean real estate isn’t still a great investment—it’s just changed how you get your return on investment.
Using leased real estate as an investment strategy can be an excellent long-term source of steady income. Unlike house flipping, which relies on a quick bulk pay-out, leased real estate pays out over years and decades in the form of rent. What could you do over years with the profits you accumulate? Save for retirement, save for the kid’s college, have extra money for hobbies, the possibilities are endless. Best of all, when you work with a property manager, it’s passive income. You don’t have to do anything to keep earning it, you just cash the checks.
Of course, one size doesn’t fit all, but for many people, investing in real estate is a great way to diversify your portfolio over the long-term. With an experienced investment planner and an experienced property manager by your side, you might find that a rental property is the source of passive, long-term income you’ve been looking for. Give Polaris Property Management a call today, and we can help you determine if owning a rental property makes sense for you.