If you have been thinking of investing in Lake Tahoe real estate, the current Coronavirus pandemic may feel like a time to pause. Or is it? While some may feel that purchasing a second home or investment property needs to wait, buying real estate involves personal timing, which means it can still be the right choice for you. With historic low rates, this may actually be the best time. Here are a few things to think about.
As mentioned above, interest rates are the lowest they have been in 50 years. With the potential for a future recession, prices on homes for sale in Lake Tahoe *could* decrease making now a great time to get a good deal. With the current stock market being volatile, Lake Tahoe real estate is a great investment for bringing in extra cash flow and appreciation.
Buying homes for sale in Lake Tahoe as investment properties comes with a lot benefits. Not only do they generate passive incomes, but you may also be able to take advantage of incentives and tax write offs while diversifying your portfolio and protecting your net worth while the market fluctuates. This is something your Lake Tahoe Realtor can advise on as it pertains to you and your situations.
Affordability is a big factor in buying homes for sale in Lake Tahoe as investments. While you absolutely do not need to be a millionaire, you should have a consistent cash flow coming in and be able to go without getting rent for a few months. You will also still need to stick to whatever budget you are pre-approved for. Your Lake Tahoe Realtor will be able to guide you in the home purchasing process once you know exactly how much you can afford. We match your buying power with properties that yield the best ROI.
There are still possible scenarios, such as an extended economic shutdown, that will cause room for pause. As a property owner, you are responsible for repairs, maintenance, snow removal, tenants that are unable to pay on time and more. There are several factors to consider when purchasing Lake Tahoe real estate as investment. For more information on this topic, feel free to call me. I would be happy to help.