Secret Millionaires Reveal Real Estate's Untapped Wealth Strategy
Financial Benefits and Cost Considerations
The financial benefits of these strategies are significant. For instance, rental properties can generate passive income while appreciating in value over time. Tax advantages, such as depreciation and mortgage interest deductions, further enhance profitability. However, it's crucial to consider associated costs, including property management fees, maintenance, and potential vacancy periods. According to the National Association of Realtors, the median price of existing homes in the U.S. was $359,900 as of September 20231, highlighting the importance of careful market analysis before purchasing.