The last couple of weeks, I've talked to several people looking for property management companies or homes they can rent for extended lease period with optiosn to purchase.
Why? Digging a little deeper into these conversations, I've discovered that many of these people have already been foreclosed on or sold their home in a short sale. Many of them were NEVER told they can't buy another house for a few years. Now they are stressing out trying to find a home to live in!
It's no joke. It's tough out there.
Ah Ha! Now we know why there are so many short sale listings sitting vacant. The sellers have found a place to rent and have moved before they were out on the street, and many times before their short sale have closed. Something to consider, is Professional Property Tending. This type of housing is for a tender, not a tenant, to live in these homes, keep the lights on, the homes are staged, and sometimes provide short term solutions for people while they are looking for a home to rent or have already sold their home and waiting to find a home to buy and then move.
Or, let's consider another option. INVESTMENT HOMES; there are plenty of homes out there that need carpet and paint and maybe a couple new cabinets that can be bought for around $100k, these make great rentals! Not only are you improving your investment portfolio, you are also providing a much needed commodity to our society. Don't forget that these investments make great gifts for children or grandchildren for college tuition down the road!! Or simply cash flow for building retirement!