Tuesday, May 17, 2016

Calling All Investors

Last week, I was in D.C. for the National Association of Realtors meeting, and there was a lot of talk about millennials and what they want and value.  What they want are dwellings that are open floor plan and completely updated--no fixer-uppers for this generation!  What they don't value like their parents and grandparents did is home ownership, although that could change, as they (belatedly) form households and have children.

That leads us to examine another growing trend across the country--single family homes as real estate investments.  Millions of homes are now owned by individuals, not institutions, for investment purposes, and are rented out.  Millennials are a prime target group for this activity.  It's not enough to buy the home, however; you need to update it, and make it into something that a renter wants to pay to live in.  

Where in our market do such opportunities exist?  Ahh, that's where you need to call a Realtor, since we know the latest sales, and which neighborhoods are hot and which are not, what features need to be added, and where renters want to live.  Flippers, give us a call.  We'll be waiting with advice.