We did it and so can you! Two reasons to buy the investment property RIGHT NOW!
Investing in real estate has always been a popular way to generate income and build wealth, and with the current market conditions, there are two compelling reasons, BASED ON DATA, why you should buy your investment property right now.
1. 58% increase year over year in properties leased
Most recent data (April 2023) provided by REColorado shows us that there has been a huge increase in the number of properties leased compared to the last two years. Post pandemic interest rates have created affordability issues for many potential homebuyers and therefore have pushed them into continuing to lease instead of buy. As an investor, this is good news as you will have a larger pool of qualified renters to become your amazing tenants.
Single family homes look to be the #1 choice for renters, with townhomes also showing growth over the past two years. Both of these home styles present great opportunities should you need to resell the home in the future as many homebuyers prefer to own the land the home sits on in addition to the home itself.
2. 7% year over year increase in median lease prices
Along with the increased pool of renters, investment property owners are also seeing an increase amount of rent they can charge for their properties. This is a perfect opportunity to start creating a steady flow of passive income each month. Even if profits are small, this could be the stepping stone needed to begin generating a larger nest egg of wealth through passive income and equity.
Investing in real estate is not a small decision and needs to be considered carefully. The best investments come through wise decisions on the purchase side of the transaction. As investors ourselves, we can confidently direct you towards the right strategies, decisions, numbers to know, and action plans to begin your journey.
We did it and so can you!
Here is a picture of us the day we closed on our rental! It was such an exciting day knowing that the journey had officially begun and we cannot wait to give back by sharing our knowledge and experiences with you! I wonder, what will your picture look like?