How does property get you income ?
- linkus86Lv 79 months ago
Collecting rent over the expenses of owning (mortgage payment, taxes, insurance, maintenance, etc) each month and/or the property increasing in value over time combined with the larger share you own by virtue of paying off principal in a mortgage comes to fruition when the property is eventually sold or you leverage your equity to borrow more to spend sooner.
- SlickterpLv 79 months ago
Rent coming in.
- real estate guyLv 79 months ago
usually 3 ways,
Rental properties would have a monthly income (Rental income - expenses = net income)
If the property increases in value
And you would also save money on your taxes if it's a rental.
Of course EVERY case is different.
- Anonymous9 months ago
Rent. Leasing, & so forth.
Say you buy a $70k house. You can rent it for about 800 a month.Gross Income=9600 per year, Property taxes $500-1300 depending on where you live. The rest is spendable every year.
And, you can usually increase the rent every year by 2-4%.
There is a company near me buying & renting our houses. One, they paid $135k, they rent it for $1350. Another, they paid $83,500, rent is $835.
They only ask 1% of what they pay. Perhaps because they overpay?
Their hope is that over time, the house values will also increase. In some areas, it might. Other areas, maybe not?
Others get more than 1%.
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- Mr. SmartypantsLv 79 months ago
You can rent or lease it. Or use it as collateral to borrow money, then invest it in hopes of beating the interest rates (which are very low today!) Or you can sell it and get money for it.
- 9 months ago
If you rent it out to folks
- MaxiLv 79 months ago
If you rent a room or rent out or the whole property then you can earn passive income from it