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Buying A Second Home For Investment. If buying a second home puts you over the $1 million debt threshold, you may be able to write off all of your interest on your loan payments [1]. To flip and resell it, or to rent it out as a source of passive income.
from venturebeat.com
As a result, the lender will want you to have a decent chunk of equity in the second property. So, as you’ve might have guessed so far, buying a second home is usually not a good investment. Ramesh thinks this is the best time to buy a house if you can lock in at a lower interest rate, and it will also help him with the rental income.
Property taxes , insurance , maintenance and repairs come along with the keys to a secondary property. Buying a second home is a big upgrade, whether you're laying claim to your favorite vacation spot or taking a first step into real estate investment. Always use a real estate agent when buying a home. Otherwise, you’d be fighting a losing battle.
