The Census Bureau has reported in the past year there has been an increase of 1.4 million households from homeownership to renting. Some new to the rental market are owners that lost their homes to foreclosure, or sold them in a short sale (selling for less than today’s market value).
With this surge of new tenants, rents are on the upswing, after several years of falling. We have seen a 5.17% annual increase in rents. Some predictions indicate that rents will continue up in the next year.
Statistics indicate that 20% to 40% of properties today are being purchased by investors. Approximately 60% of these are considered new investors.
Rental houses are a great way to create wealth over time. Tenants pay the rent, hopefully covering the principal, interest, taxes and insurance on a property. And, when home prices are up, it can be an opportune time to sell.
Owning investment properties since 1996 has proved profitable for me. I have bought, rehabbed and resold. I have sold several over the years when prices were high. But, I prefer to buy, hold and collect the rents.
Specializing in Residential, Investment and Relocation Real Estate
We have a team of professionals to facilitate your Short Sale.
Melbourne Real Estate / Palm Bay Real Estate
Serving Brevard County Florida for 15 Years
Brevard County Resident for 36 Years
Melbourne, Palm Bay, Suntree, Viera, Rockledge,
Cocoa, Canaveral Groves, Titusville, Mims, Melbourne Beach,
Indialantic, Indian Harbour Beach, Satellite Beach,
Cocoa Beach, Cape Canaveral
I buy, sell, rent, own and manage Investment Property.