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If you are looking at buying Austin realty with the idea of creating a second income for yourself, you have probably already realized that there are different types of rental properties you can invest in. Which is the best type of property for you? Knowing more about the different types of rental investment properties will help you make the right decision when it is time to buy. You can also enlist the help of a professional investment property advisor. * Rental Homes – Rental homes have the advantage of being simple to upkeep and to purchase. You can often get the best interest rates on a single family dwelling. Of course, you will have to consider that you will probably not collect as much rent from a rental home as you would for an apartment or duplex. Maintenance and upkeep on a home can also be expensive, especially if it is an older home. However, if you buy a property that is in good repair, it is a good way to supplement your income. * Apartments – Apartments can be a really nice Austin realty property investment in that they may provide you with the most rental income. However, you may want to think about hiring a maintenance person to help with all the upkeep that will be required for multiple dwellings. The cost of a maintenance person will take away from the income you are able to keep. If you have the time to do all the maintenance and upkeep yourself, you can save yourself some money. * Duplexes – Duplexes may be the best compromise between a rental home purchase and an apartment complex property. You have the rental income from multiple residencies and still can keep time and money spent on upkeep and maintenance to a minimum. If you are any type of a “handy-man” at all, maintenance for two residences should not prove too difficult. * Condominiums – Condominiums are great in that they provide a sense of community for residents. They often come with amenities that will draw people to the property. One thing to consider is that condominiums may have strict rules about what types of renovations or alterations to the property can be made. However, condos are fast become the residence of choice for many Austin residents. You will be able to make the most income from a condominium property that is in a good neighborhood, has many amenities, and is in top condition. Each type of Austin realty rental property has its own unique advantages. If you are having trouble deciding which type of property you should invest in, maybe it is time to contact a professional property investment consultant to help make the process easier. For More Information Click Here
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