Investors are coming out of the woodwork. I don’t mean the get-rich-quick flippers, but the long-term genuine investors. For several years, I had quit buying investment homes and advised my clients to do the same, but within the last year, prices have dropped and the demand for rental property continues to increase to the point where real estate can actually be a great investment again.
What kind are rate are you willing to accent on your money? Do you think 9% is good? How about 12%? The properties are out there again after several years of an inflated market, but invest wisely. I can’t tell you the number of people over the years who have told me, “We just bought a great investment property!” Then I ask about the IRR, Cash on Cash Return and other typical questions and they realize they have no idea if they make a good investment or not. How do you compare investments to determine which is better?
It’s time to invest, but it’s time to invest wisely. Make sure you know the numbers before you make an investment.
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