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Why Now May Be the Right Time to Become a Landlord
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Posted On :
Apr-27-2011
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Article Word Count :
432
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The article discusses the reasons why beginning and seasoned real estate investors can profit from the housing rental business today.
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You might have a house with an available room for rent. Or you might be a savvy investor who buys houses and rents them out for a period of time. But whatever the case, you’re in the right position to earn big bucks right now. Why? Because of the following reasons:
1) Mortgage rates are too good to pass up.
According to Yahoo Real Estate, the average interest rate for March 2011 is 4.25 percent (for 15 years) and 4.91 percent (for 30 years). That’s unbelievable. And even if the rate suddenly hits 6 to 7 percent in the next two years---it’s still low! So if you plan to buy a rental property, TODAY may be the day for you, my friend.
Remember, these rates may go up and probably will, so lock it in by buying a property now so you can take advantage of the low interest rate. Yes, I know it’s just one of the factors that can affect how much profit you earn in real estate, but why pass up this chance when you can save a lot of money just for the interest rate alone? Carpe Diem!
2) Many homes are being sold out as REO’s (Real Estate Owned) or short sales.
More good news for real estate investors. These homes are typically sold at discounted prices, and some are even in great shape as well. You can buy one and just do some simple repairs or a small renovation, then voila! You can have it rented in a few weeks. However, you might ask, will there be available renters? This leaves me to number three:
3) Many people are choosing to rent than buy a home.
The last couple of years have proven difficult for homeowners, especially those who are in the process of working out their finances. This is the reason why many of them are letting go of their properties and opting to rent instead of buy. Also, many urban families prefer to rent places that are near their work or other establishments. They prefer convenience and practicality in their choice of properties.
A word of caution, however: make sure that you’ve done your homework and learned about the ins and outs of the real estate investing business before you take the plunge into this kind of venture. Many investor wannabees plunge into this head-first, only to realize they’ve landed in quicksand instead. Make sure you’re prepared emotionally, mentally, and financially before you buy that first piece of property you’ve been dreaming about.
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Article Source :
http://www.articleseen.com/Article_Why Now May Be the Right Time to Become a Landlord _60650.aspx
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Author Resource :
Feel free to see more latest Real Estate trends in Seattle and San Jose California, including Real Estate Market Guides and Buy land real estate guides. Visit us at http://bloggericious.com/delicious/realestate/.
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Keywords :
real estate trends, real estate market guides, commercial real estate, real estate investors guide, buy land real estate guid,
Category :
Finance
:
Real Estate
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