Investment Benefits of Owning a Rental in Key West

KEY WEST, Fla. - April 25, 2016 - PRLog -- Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell BankerSchmitt in and owner of www.lowerkeys-homes.com,"Everyone knows the Federal Reserve is beginning to raise interest rates, but, mortgage interest rates are still near historical lows. Combined with still affordable home prices, and, the fact that buyers are a bit skeptical, means now is a prime opportunity to owning a rental in Key West. Aside from timing, there are several benefits you can enjoy:

● You build more wealth. When you have real property in your investment portfolio, you have a real asset. It's not about speculation, like commodities such as gold, silver, oil, and others. In other words, real estate is much more steady and its historical trend clearly demonstrates it gains significant value over time.

● Tax deductions are available. When you own a rental property, you are able to take advantage of certain and helpful, federal tax deductions. These include things such as mortgage insurance, business related travel expenses, operating expenses, utilities, insurance, and other write offs.

● Property values will only rise. Because there's a finite amount of land in Key West, your rental home will only continue to rise in value. Add to it the fact it is in a destination location, and, that valuation phenomenon is more substantial than the average landlocked home.

● You create an income stream. A Key West rental will generate a passive income source for you and your family. As the mortgage amortized, your fixed costs shrink in relation to market dynamic rental rates. That means a larger margin, which means more money in your pocket.

● It provides a dedicated vacation spot. Another benefit of owning a rental in Key West is that you don't have to rent it out every day of the year. You can personally enjoy a dedicated home away from home, and give the same experience to vacationing family and friends.

Yet another benefit is that you can retire and move into the home full time, continue to rent it with an amortized mortgage, or, sell it for a big return on investment. It's really up to you what you'd like to do with the property in the future. But, one thing is for certain, owning a rental in Key West is a worthwhile investment. For help with Lower Keys Real Estate please see http://www.lowerkeys-homes.com