America is Becoming a Landlord's Delight
Mikes commentary is right on the mark. I'd add that a critical ingredient is hiring a strong property manager. Property management is NOT for novices.
According to an article by Lawrence Yun there are 1.4 million more renters in America today than a year ago. This is good news for landlords and aspiring landlords, because the increased demand without corresponding increases in supply translates to higher rents. If you're thinking about buying some income property, the cash flow projections should become increasingly more attractive. If you're a renter, you can probably expect to see your landlord with a new truck after he raises your rent.
Given the attitude today in Washington that America will be better off as a nation of renters, investment property looks better every day. If you're interested in watching your money grow, love tax incentives, and don't mind being just a little participatory with your investments, you may want to consider becoming a landlord. Call if you want to explore that possibility.
If you're a renter, it's probably time to start thinking about declaring your independence from your landlord. Get your own place and freeze the monthly payments for thirty years. You'll never get a deal like that from the guy with the new truck. The transition from renting to owning is easier than you probably imagine. Call if you want to talk.
Maybe you are a renter who has a little entrepreneurial spark. Why not buy a duplex or larger, and get your own renters to help pay your mortgage? It is not an impossible goal. Let's talk about it soon.
E.J. "Mike" Carlier Apple Valley MN
Keller Williams Realty Integrity Edina
612-916-3033
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