If you want to generate passive income and invest toward retirement, one way you can do it is by investing in income-producing properties, also called income-producing assets or income-producing real estate. You might be surprised by just how many types of income-producing properties are out there. Here are some in which you can invest in Florida.
- Single family homes: Applying for a loan for a single family home as an investment property is pretty straightforward, and the property taxes usually are not that high, making it an attractive investment option.
- Multi-family homes: If you are buying a duplex, triplex or fourplex, that is a multi-family home. You will be able to rent out to more than one tenant. Of course, it can be more expensive to get started, and approval can require jumping through more hoops than you would for a single family home.
- Short-term rentals: These are properties suitable for renting out for short periods of time (i.e. days or weeks rather than years) to people who are on vacation.
- Fix-and flip properties: This is an investment property that requires you to do some repair work before it will be ready to rent out. But as a fix-and-flipper, your goal is to flip it after you fix it for a higher price tag than you paid to purchase it and do the repairs.
- Turnkey properties: As the name suggests, this is an investment property that is pretty much ready to go when you get it. You can start renting it out right away.
- Apartment buildings: An apartment building is an opportunity to invest in real estate with numerous rental units. It is a great way to build up your wealth through economy of scale.
- Commercial properties: Residential properties are not all you can invest in. you also can invest in commercial properties like retail or office buildings.
The list above gives you some idea of the opportunities that are out there, but is not exhaustive. With so many options, there is something for every investor.
Invest in Income-Producing Real Estate in Florida
Lending Bankers Mortgage helps investors throughout Florida to purchase a wide variety of income-producing properties with ease. We can connect you with a real estate investment loan that will help you maximize the return on your investment. To get started, please call 786-220-1100 to schedule your consultation.