There are tons of reasons why you should invest in real estate! In particular, Oak Creek is a fantastic area for you to have a second home or rental property that you can rent to your guests. Although investing in apartments, condos, commercial buildings, or single-family houses can be a huge investment and put a financial strain on you in the short-term, they can consistently bring in extra income over time and increase in value. Real estate investments are a great way to make money every month for the foreseeable future – if you follow up with maintenance, fixes, and advertisements! Check out why you should choose Oak Creek to invest in a property to make the most bang for your buck over the years. Porter can help you manage and take care of your Oak Creek properties and guests, so you can rest assured that you will not have to worry about a thing.
Cash Flow
One of the main reasons why people invest in properties is to obtain consistent cash flow. For some jobs or side gigs, there are periods of heavy influx or profit and then large lulls, which can be a huge financial detriment and drain to your bank account and savings. Hoover, with rental properties in Oak Creek, people flock here all year round and love coming to this area for the outdoor options, shopping, restaurants, and cafes.
Thus, you never have to worry about a downtime for tourism. This helps you boost your monthly income, receive monthly payments, and also still be able to make use of the property when guests are not staying there. It is a win-win situation!
Return on Investment
Unlike other investments, which are very risky and might not have a huge payoff in the end, Oak Creek real estate usually offers a great return if you decide to sell the house, condo, apartment, or cabin later on. You can sell your property for a large profit, especially if you have done upgrades to the house, such as including new appliances, fixing any maintenance issues, or increasing the outdoor space.
Long-Term Safety and Security
A third reason you should consider investing in a short-term rental property in Oak Creek is due to safety and security. Short-term rental properties are always in high demand for people who are going on vacation, whether they need a place for a weekend away, a week-long spring vacation, or a two-week summer holiday. Real estate is a perfect long-term investment that offers you extra security and monthly income, especially as the area around the property increases in value.
Tax Write-Offs and Breaks
Taxes are hard at the end of every financial year. You might end up paying thousands to the government and depleting your savings. But when you invest in a rental property, you can receive numerous tax benefits and advantages, such as deducing ongoing maintenance, rental costs, repairs, renting fees, property insurance, and property management fees. If you decide to sell your Oak Creek properties for more than you paid for it in the beginning, then you will be taxed through capital gains, which can lower your yearly tax payments. Talk about a financially responsible decision!
Diversify Your Portfolio
Although you might be making other smart investments and working a full-time job, investing in a property is a good way for you to diversify your portfolio and prevent any issues that can occur due to a stock market crash, economic downfall, or other business issues. Even if you are fired from your job, or something happens with your taxes or stocks, you can still make money through your rental property and diversify your portfolio, which makes you more desirable for lenders in the future.
Passive Income
Isn’t it great to make money without having to do anything? We think so too! Use Porter to manage your Oak Creek real estate and make money without having to do anything. We can take care of the cleaning, guest services, check-in process, check-out procedures, and everything else that can make or break the guest experience. This way, you can have a passive income without having to do anything!
Leverage Your Money
When it comes to buying a rental property that you can use for short-term rentals for visitors to Oak Creek, chances are you will not be able to put down the lump sum right up front. This is normal, so you don’t have to worry – most people can’t afford to pay anywhere between $60,000 and $300,000 upfront on an investment home for a family, couples, or solo travelers.
However, this is when you must figure out how to leverage your money to use other sources of income to purchase the house and take ownership of the new property. You can use mortgage lenders, credit unions, and banks to provide you with additional funds. Since you can borrow money upfront, you can then add properties to your real estate folders and portfolio without having to put down a hefty sum upfront.
Fight Inflation
Inflation is one of the main deterrents as to why people might not be able to buy properties or make risky investments. However, with a rental property, you can fight against inflation. Investment properties offer a higher monthly income during inflation, ensuring that you can still make the same ratio compared to before.
Build Capital
The last reason why we think that investing in a short-term rental property is a great idea is so you can build capital in a trustworthy way. Real estate investments are a foolproof way for you to gain monthly income, passive income, and build cash. Cash is capital, so you are just finding a new way to make a consistent cash influx over time that won’t decrease due to inflation, economic changes, or other issues.
The key is to choose a property that can rise in value – that is why we think that Oak Creek is the perfect area for investment. Oak Creek in Arizona offers scenic drives, Montezuma Castle National Monument, Cathedral Rock, Red Rock Visitor Center, and many other fun things to do for tourists and visitors.
Use Porter to Manage Your Investment Property
We are with you every step of the way, so you never feel alone during the selection process of a property, managing your home, or renting your beloved house, condo, or apartment to guests. We help you choose the ideal guest so you can feel confident and secure. They treat your place with respect. Plus, we take care of the details, so you never have to fret about cleaning, setting prices, managing the home, or dealing with guest queries or complaints.
Our local staff is well-versed in all there is to do and see in the nearby area, along with providing guests with key information that they wouldn’t find online or from hotels or Airbnb. Our number one goal is to ensure you, and the guest, have the best rental experience possible. It is no wonder people come back year after year to visit our properties! As a property owner, you can rest assured that we take care of everything, so all you have to do is select a home and sit back, relax, and enjoy the constant cash flow. Easy!
