This is a great opportunity to touch bases with past clients in this incredible buyers market to concider increasing their real estate holdings by purchasing a rental property. If you have past clients that have equity in their home, or extra cash in the bank or other investments, now is the time to put that money to work for them! With more adjustable loans coming due, and the borrowers with no way to afford their new adjusted loans, we will see a rise in the need for rental properties. Your clients will pick up a great buy, with interest rates on 30 year loans still reasonable! Rent costs are already on the rise! Someone else will be making their mortgage payment for them. Once the market shifts back to a sellers market, it's like money in the bank but with a better interest rate.
Dust off that old data base, make a few phone calls or e-mails, and see if you can get something started!
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