The Idaho Falls real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Idaho Falls click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 208.227.5320.
Last time, we discussed the many benefits of home ownership. Today, we want to talk about investment property and the many opportunities currently available in that area of the market.
Most people have their money in a CD or a savings account at the bank. If it's in a savings account, you're probably getting .5% interest; if it's in a CD you may be getting as high as 2% interest. While there's nothing wrong with accruing money from interest, people often forget that investing in real estate is a great path to wealth.
On a $150,000 property, you would have to put 20% down as an investor, so you would have to have $30,000 available for a down payment. If you're financing $120,000 at 4.5%, your total payment would be about $850 per month including property taxes. You would be leasing the property out for, say, $1,150 a month for rent. The difference you would be taking home per month is $300, for a total of $3,600 annually. That's a 12% cash-on-cash return!
How many other opportunities do you have to get a return like that? That's a much better rate than your savings or CD account.
If any of this has piqued your curiosity, give us a call or shoot us an email. We would love to help you start building your wealth in real estate!
