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2018 Is The Best Time To Become A Landlord Winston Rowe & Associates
If you are looking for a new career perhaps investing in rental properties could be the perfect way to go.
By: Winston Rowe & Associates
An estimated 45.9 million renting households, millennials headed up 18.4 million. Gen Xers and baby boomers each headed 12.9 million and 10.4 million, respectively.
While millennials might be fueling a large portion of the rental market, the growth is across the board. The number of renter households will increase by nearly 500,000 annually over the ten years from 2015 to 2025.
With the normalization of renting as a long-term housing solution, it is the perfect time for who are able to invest in real estate to do so.
By purchasing a rental property in any of the strong markets across the nation, you can take advantage of this continuing trend.
Real estate has long been touted as one of the most sustainable investments around. Not only can you create a passive cash flow from rental properties, your investment will also have a great potential to increase in value over time.
Not only will a house and land both increase in value over the years, they will also provide you with a tangible asset. In addition, you can also use your property to take part in a variety of tax deductions.
For these reasons, rental properties are truly one of the best choices for sustainable investment.
With the advent of technologies related to landlords, managing a property can be done by almost anyone.
Before, renting out a property was a time-consuming and tedious process. From listing the property in local newspapers to gathering paper applications and manually screening tenants, being a landlord was no easy task. This is why, for many, opting to hand over their rental to a property manager was the best business decision. However, hiring a property manager also ate into profits.
The good news is that with the use of technology, managing properties is much simpler than before. From marketing through websites like Craigslist to accepting online rental applications, being a landlord is far less complex than it once was.
Technology also allows for landlords to manage their properties much more easily while remaining mobile. This makes real estate investing more viable as a side hustle, as you are not tied to a desk or office in order to keep track of things.
If you are looking for an investment, now is the perfect time to become a landlord and take advantage of the booming market, technological advances and longevity of real estate investments.
Winston Rowe & Associates published this article; they are a consulting firm specializing in complex commercial real estate transactions. They can be contacted at 248-246-2243 or visit them online at http://www.winstonrowe.com