What I'm seeing alot of is people coming down now looking to buy a property that they don't intend on using for another three to five years. They just can't let this great buyers market pass them buy so they are making the purchase now and renting it out. There are so many properties to choose from and the conditions are still great to make a good buy.
Even though its not easy being a landlord, if you find good tenants and work with the right people it will pay off in the end.
Very smart Joseph! We may never see deals like this again in our lifetime!
Josephy, statistics support you nation wide, Investment property purchase are on the rise. 12% of sales last month I believe.
Very True Joseph, except for not being easy being a landlord.
Being a landlord was what had pulled me into the real estate business, and its really easy if you do it right. The trick is finding out how to do it right.
How about another twist on this? Buy the dream house now and live in it. If you are going to keep the old home, then rent it out. The difference? The so-called move-up tax credit of $6500. That would be another way to take advantage of current real estate values. And if you are going to move into the new home as your main personal residence, it will probably be easier to get financing on it.