Man, I'm thinking that it's probably a good idea to start reading up on property management.  I've had two clients in the past week, one who wants to lease out her property I have listed for sale and the other who wants to purchase another distressed property and rent it.  Both are considering leasing but want me to management the properties.  And, on a recent BPO, an investor wants to continue purchasing property but we're meeting soon to look at the prospect of me managing his current homes and future purchases.  I have another past client who is now considering purchasing small apartment complexes (4plexes and 10 units and under) before the purchase prices start going through the roof.  Apartments are more cost effective than purchasing a home and leasing it. 

The way I figure it, all the people needing a place to live who are coming out of their homes, are going to need housing that is not only with less maintenance than a house but costs less than leasing a house.  And apartments do just that.  No more mowing the lawn and the costs to maintain a yard, no more general maintenance of appliances, a lower cost to house the family like less property taxes and insurance.  I see it happening already.  My customers are moving from a 2,000sf, 3bdrm,2b home, $1,600/mo plus the adding all of the other costs, to an apartment, smaller 3bdrm, 2b for a flat $1,400/mo and no more money down the drain.

This economy is changing fast.  I'm sitting here this morning looking at joining IREM.  What a hoot!!