According to the NAR chief economist, rental rate growth is at 3% annualized this year as is unlikely to cool for three reasons: 1) there is a rising number of young adults, 2) a high number of owners of foreclosed homes who can’t afford to buy, and 3) low construction rate of new apartments. With home prices at, or near the low point investors also expect home appreciation. Maybe, now is the time to take advantage of low interest rates and obtain an investment property.
The perfect storm for an investor with rental property is to use leverage to buy a property that your tenant pays off for you over time, have positive cash flow, and a property that will appreciate in value over the long haul. For more information call Todd Groth at 720.203.9624 or look us up online at www.BevGrothProperties.com