Thursday, July 25, 2013

Rents Soaring – Time to Become the Landlord

The Wall Street Journal published a very informative article a few weeks ago on the strong rents being paid (and realized) in the major metro areas of the country.  The areas that saw the steepest rent increases in Q2, 2013, from a year earlier:

·         San Francisco: 7.8%
·         Oakland, Calif.: 6.9%
·         Denver: 6.1%
·         Seattle: 6%
·         San Jose, Calif.: 5%
·         Portland, Ore.: 4.4%
·         Houston: 4.3%
·         Austin, Texas: 4.1%
·         West Palm Beach, Fla.: 4%
·         Fort Worth, Texas: 3.6%

As we all know, the strong tech sector is helping fuel the rising costs for tenants.  Why not, then, be on the other side of the table, and purchase / own property to lease out (YOU be the landlord)?  There has never been a better time than now given the historically low interest rates.  Create partnerships, talk to your spouse or family members to pull together the funds, get creative with financing – anything is possible, make it happen.