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Definition of 'Income Property'
Property bought or developed to earn income through renting, leasing or price appreciation. Income property can be residential or commercial. Residential income property is commonly referred to as "non-owner occupied". A mortgage for a "non-owner occupied" property may carry a higher interest rate than an "owner occupied" mortgage as it is viewed by lenders as a higher risk.
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Investopedia explains 'Income Property'
A common practice during periods of home price appreciation is for investors and speculators to purchase residential income properties with the intent that rents will cover their monthly expenses for a period of time until the property can be sold for a large capital gain. As with all markets during times of fast price appreciation, and as with all market bubbles, those that enter the market first and get out first usually do well. Those that enter the market later, and get out last usually don’t do as well.
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Find out what factors you should weigh when searching for income-producing real estate.
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When interest rates fall, real estate prices tend to increase. Why? Find out here.
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Create a valuation system to forecast the profitability of an income-producing property.
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Search and compare the best fixed and adjustable mortgage rates in your area with Bankrate.com.
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Discover how owning properties can give you a roof over your head or a check in your pocket.
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Owning property isn't always easy, but there are plenty of perks. Find out how to buy in.
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Investing in rental property can generate serious income, but there's more to it than collecting rent.
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If you have property to sell and want to avoid capital gains tax, a Section 1031 exchange may be the answer.
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Find out how to choose which mortgage style is right for you.
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Should you refinance your mortgage to purchase other assets? Learn how to weigh your risk.
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