Recently, I was asked by someone that had contacted me why it is a good time to buy rental and income properties. The real question is "Why would you not buy a property with the current selection, price adjustments, and financing available?"
Five years ago there was a lack of rental properties and we really had to hustle to find the right ones for purchase.
Three years ago there were many in my area that were overpriced and overbuilt creating a saturated situation, and even if the supply would have been less dense in some areas, the price was still high.
A year to two years ago adjustments started to emerge. A lot of properties were coming on the market, and a lot more followed, and continue to follow. Some landlords shoe stringed because of heavy debt, second and third mortgages realized that they should, and needed to sell.
To this day the rates are great, the selection is good, and the prices are realistic.
So I ask you. "With all these variables in your favor, and if you can and want to buy property, why would you not buy a property at the current time?"
The time to buy property is now.
Tom Braatz and Glenn Shong
If you have thought of buying a home you really should get your buyer package now. Just give us an email and we will get one out to you. See you at closing! When you are looking for two Brokers that know Real Estate, and live and breath it as well, just pick up the phone and call Tom Braatz or Glenn Shong. If you would like one of our custom Seller or Buyer Home packages, or one of our Real Estate tool kits feel free to call or email us as well. We are passionate about what we do, and we enjoy working in Real Estate that everyday is another amazing journey;we have both enjoyed it for years, and everyday we wake up it is with more enthusiasm as the previous day.
Let's roll up our sleeves, get a game plan, and make your dreams come true! It is time to buy that home.
tom@tombraatz.com tombraatz@remax.net www.activerain.com/tommybraatz www.LinkedIn.com www.ecademy.com www.tombraatz.com www.buyingvip.com 262-377-1459 www.naymz.com www.zoominfo.com www.facebook.com www.plaxo.com www.trulia.com commercial real estate powered by www.xceligent.com www.perfectnetworker.com www.realtownblog.com www.loopnet.com www.konnects.com www.twitter.com www.congoo.com www.connectture.com www.myhomevaluesource.com and more.
We want to be your Realtor, and I look forward to seeing you at your closing
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Good motivation info. Recommend backing it up with projected numbers. For example, in my area the median home price is $256,000, which equates to ~ $1,900 a month mortgage payement. Factor in property management fees of 10% you need to rent the home for $2090/month to generate income assuming no money down, and no tax benefits...... and on and on.
In WA state we are just hitting that point where you can put 20% down, and make money. The ROI is still <10% though.
Agree, still a great time to buy rentals, just do your due diligence.