You may not be in the market for a new home for yourself but that doesn’t mean you shouldn’t keep your eye on the housing market. This is especially true for the ever-growing and ever-desirable city of Westfield. The reason behind this is that there is potential to make good money by investing in a rental property. With so many people clamoring to move to Westfield, chances are that finding tenants would be simple. Plus there are many benefits to investing your money in a income property. One of the biggest benefits is that you are your own boss in this money making endeavor. You get the call the shots when it comes to how much rent to charge, what tenant you will rent to, and how you will maintain the property as a whole. The idea of not having to answer to someone else is appealing all in itself. A financial benefit to owning an investment property is that rental income is money in your pocket. Essentially the idea is that you will charge your renters more than what the mortgage is. This way every month you are not only continuing to add equity to your property but you are also able to capitalize on some additional money. While some of this money will need to be reinvested in maintenance the rest of it is yours. Plus there are huge tax write-offs for investment properties!
With all of that being said, now is the time to capitalize on these potential investments in Westfield. Here is a list of properties in Westfield that are currently on the market for under $150,000. These are ideal for potential money making properties as you won’t be over-investing. If you have any questions or want some guidance as to investment properties feel free to call or email me. I look forward to hearing from you!