Most of the news you hear about real estate these days seems to be bad news. Home prices have fallen, and there are still too many foreclosures occurring. But the rental market remains hot!
Rental property investments present great opportunities. There are a lot of people looking to rent in today’s market – partly because foreclosures have turned homeowners into renters, but also because a lot of people are reluctant to buy now because of falling housing prices or the security of their jobs.
Why You Should Buy Now
Among the reasons to invest in rental properties now:
· Low mortgage rates
· Rising demand for rentals
· Renters are paying more per month
It is important to realize that owning rental property is something that you plan on having for a while until housing prices come back up. Plan on 10 years or so…
Other key considerations include:
· Buy local properties
· Know the Neighborhood
· Work with an experienced realtor who has experience with rentals
· Consider multifamily dwellings
· Have a plan in place to rind and manage tenants
The goal: to make sure your rental income will at least cover your loan payments, plus a 20% cushion to handle repairs, vacancies, and property management.
Call a top real estate professional to help you find the perfect rental properties in your market. My team specializes in St. Charles County and St. Louis County. If you are considering buying rental properties in St. Charles or St. Louis, please contact Sandra Meranda and I’ll get you moving!
Read the full article – https://money.cnn.com/2011/08/30/real_estate/rental_property_investing.moneymag/index.htm