by Julie Koppman
on Friday, January 10th, 2020 at 12:32pm.
Looking to make a smart move in 2020? Then consider buying a home that generates revenue. After all, living in your dream home is so much more attractive and affordable when you can pay down your mortgage with monthly rental income. Whether you prefer to have long-term tenants or offer short-term rentals, being a successful homeowner by taking advantage of rental income is empowering. Owning a home that serves as your primary residence while generating revenue can also provide retirement income once your mortgage is paid off.
Even if you’re not looking for a new home for yourself, investing in a duplex, double, or multi-unit listing and renting those units long-term is a proven strategy for increasing your annual income, and one many savvy property owners use to their benefit.