Acquiring property in Hampton Roads, VA is smart, especially if you are keen on renting to military families and recent veterans! For example, the Norfolk market had a median housing price of $222,000 in July 2019, and the median monthly rent was approximately $1,450, per Trulia.com! If you wish to augment your current income but aren't sure about the volatility of the stock market or flipping houses, it could be time to purchase rental properties. You probably already know that most urban areas in the U.S. and many smaller communities face an affordable housing crisis. They need more investors to come in and purchase single family houses and manage them for working families and individuals. The growing market of single family home rentals is a perfect investment opportunity for cautious spenders. Read on to find out why.
Understanding the Market - Why Our Homes Are in Demand
Single family homes are rentals that working families and single adults can use to keep their budget stable while building their own credit and economizing on expenses. A rental home usually has a fixed monthly price and does not require a prospective renter to find money for increasing property taxes or maintenance/updates to the structure. Examples of renters who desire these types of homes are seniors, career individuals, people living on a fixed income, and the disabled. Also, multiple generations of a family sharing one home can afford a higher rent by combining their resources.
Benefits of Buying Rental Properties
Purchasing a home and aggregating the monthly rent is not a bad way to accumulate personal wealth. It's been used by family trusts for generations to keep cash flowing in for the support of younger relatives. Profiting from a real estate property translates to the buy and hold strategy. Like many investors, you would appreciate this technique if you feel cautious about your money and are willing to hold out for the long-term benefits of stable tenants. At Renters Warehouse, we think you will love these benefits of rental properties:
- Acquire a second residence for income generation. While managing a property is a hassle, investors just like can trust our real estate agency to handle tenants and keep the rental income coming in! We've got decent tenants in place on all listings.
- A rental asset pays over many years. Don't waste capital on the administrative fees charged by a wealth management firm, a real estate investment fund, or a hedge fund. A 2017 report revealed that single investors accounted for 47 percent of all rental units. Join them in profiting from this stable market.
- Rental investments can finance early retirement. If you acquire multiple rental homes, the combined income will provide steady revenue for your household budget. Renters serve as a steadier livelihood than a fledgling pension plan.
The Scoop on Renters Warehouse
We don't want you to waste precious time or money on investment schemes that never yield results! When you choose one of our rentals for your investment portfolio, you will benefit from this hidden Hampton Roads, VA market. Each property is truly off-market, meaning realtors will never see it listed on their Multiple Listing Service (MLS). There are no FOR SALE signs decorating these rental properties, and the tenants in place are happy with their rents! With our service, each investor receives the inside scoop on Hampton Roads rental properties and saves tons of time!
Get Started Today
We want to help you increase your wealth! Contact us and get the details on every property that we diligently manage and offer up for real estate investment. Renters Warehouse presents a great alternative to letting your life savings fallow in a low-interest account at the bank!