I saw a post on another site today that said that investors who buy an investment property to hold are hurting the investment market. Say what???
I am an investor who has two rental properties. I have had these since 2004, okay I admit I didn’t buy them at the best time, but these rentals have provided enough income to cover most of my costs, saved me thousands of dollars in federal and state taxes and amazingly enough provided homes for a couple of great tenants.
I am a believer in “buy and hold” investment property. I see it as a bit like “buy and hold” investments in the stock market. I took a bath in March, 2009 but I am happy to say that by holding on I wound up making back all of the money I lost and the stock market isn’t back above 1400. I also know that the rental market is very tight where I live and landlords are being able to raise rents again after stopping for a few years. Like everything in life, investment real estate is cyclical and I recommend you get great advice if you want to invest, don’t just read a single post on the internet. (Did I just dis myself??) LOL