Renters Can Pay Your Mortgage

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

I have been receiving quite a few calls from people who want to rent. And some are ready to settle for a room, an apartment, a condo, a townhouse,  a small single-family house, or a large mansion.  Also had a caller who needed a six-month rental due to storm damage on his present place. The immediate need is necessary for these people.

There are limited choices for those who cannot purchase, or maybe they have been priced out of the market.

I also have many calls from investors wanting properties in any condition to "flip." Think about rental opportunities. There is a housing shortage. There is a real need. So-

Have you thought about purchasing homes, living in part, renting out part, or just renting the house for income?

I have a large old home used as an Airbnb, and it is easy to keep occupied and produce a good steady income.

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And this home is being enjoyed by visitors to Baltimore when they have extended stays, family situations, long-term medical treatment at one of our many hospitals, a special event, or when they are looking for horses.

Many reasons why rentals are a good investment right now.

Renters are losing their homes because owners are ready to stop being landlords.  The owners are prepared to sell and take their profits in this robust market.

So again, I have long-term renters needing homes. As they put in for rental applications, they lose out by the huge demand. 

 

Check out this home that could be income-producing

7520 Seven Mile Lane

Baltimore County 21208

MLS# MDBC2003390

 

Seven Mile and Smith Ave Desirable location!

 

7520 Seven Mile Lane

 

Here is an excellent opportunity to own a single-family home set up as two living units. The second floor has a private entrance from the large covered front porch, three bedrooms, a full bath, and a kitchen! Live on the first level, rent the upstairs

or use the entire home as a four-bedroom, two-and-a-half-bath home. Maybe laundry room upstairs instead of the kitchen.

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One potential benefit of investing in a rental is that it can provide two types of investment returns.

Properties can provide appreciation if the owner makes improvements. The equity increases in the property by paying down the mortgage.

Another benefit is that the owner also can realize an ongoing return in the form of positive cash-flow on the investment — earned by renting the property out to tenants for monthly payments that exceed the owner's overall monthly expenses to maintain the property. Rental income can pay your mortgage!

 

Thinking of buying or selling an income-producing home

Call Margaret Rome

 

Margaret Rome

 

Comments (16)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret around here rents are going throw the roof.  In many cases even a 2 unit property where only one of the units will be rented is enough to pay the mortgage, taxes, and insurance.

Oct 16, 2021 12:51 PM
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Margaret!!! Yes, some rental property owner are cashing out big time!

Renters are losing their homes because owners are ready to stop being landlords.  The owners are prepared to sell and take their profits in this robust market.

Oct 16, 2021 01:39 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

George Souto, You make a good point.

And this is the right time to invest in properties that can be rented.

Oct 16, 2021 02:56 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Sham Reddy CRS, This is the time for us to make our buyers and sellers aware of this rental opportunity.

Oct 16, 2021 02:58 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Margaret Rome Baltimore 410-530-2400 ,

There are many that should and are considering aware of the immediate rental opportunities. I've seen several sellers now who have held rental properties for 15-20 years and are selling them now with the higher prices. There is a genuine need for more rentals.

Oct 16, 2021 03:20 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Margaret,

You certainly have shared wonderful ideas for new home buyers.  Wishing you a great rest of the weekend. A

Oct 16, 2021 03:35 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Dorie Dillard Austin TX , It seems this rental shortage is widespread and for those investors, you mentioned, this may be the right time.

Oct 16, 2021 04:00 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Thanks, A, of Ron and Alexandra Seigel 

Always a pleasure when you stop by. Wishing you two a lovely weekend!

Oct 16, 2021 04:02 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Margaret,   Great information for buyers.  We have lived in and rented out the other apartment of our duplex.  Good experiences and had our mortgage basically paid by the tenants.  Now is a good time to invest.  Wishing you continued success.

Oct 16, 2021 04:32 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Bob Crane, You are making my point with your comment.

" We have lived in and rented out the other apartment of our duplex.  Good experiences and had our mortgage basically paid by the tenants.  Now is a good time to invest."

Thanks for sharing!

Oct 16, 2021 04:35 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Margaret - possibilities are everywhere.  Inventory of properties for sale or even for rent may be in a different category.  

Oct 17, 2021 03:37 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Margaret - that is certainly a thought in todays shortage.  My father in large used to have a two family house.  They rented the top floor.

Oct 17, 2021 03:40 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Good morning Michael Jacobs Always good to see you!

Oct 17, 2021 06:53 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Grant Schneider, Your father-in-law knew how to get someone else to pay his mortgage.

 

Oct 17, 2021 06:54 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Yes indeed Margaret Rome Baltimore 410-530-2400 and renters have been paying many mortgages for my family for over 50 years

Oct 17, 2021 04:19 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Rocky Dickerson, Would love to hear more. Have you done any blogging on this topic?

Oct 17, 2021 07:52 PM