Can you imagine having to live in an apartment building during the COVID-19 Pandemic? Having to share an elevator with strangers? Walking through interior hallways with shared ventilation systems? Imagine having to risk your life every time you walk out your door. In the past 6 months, COVID-19 has forced us to dramatically shift the way we exist as a society. Social distancing has become the new normal. A record number of employers have gone fully remote, forcing employees to stay at home. This has brought a newfound appreciation and demand for space, making single family homes one of the best opportunities in real estate.
More and more renters are shifting to single family homes in order to stay safe and properly distance themselves from other potentially infected individuals. Those that work from home, need the extra room to set up an office and shield themselves from rowdy children, who have also established themselves as permanent residents in their virtual classrooms at home! Backyards and pools have become our escape from cabin fever, and the outdoor space is necessary for exercise and fitness. Single family houses are also naturally physically separate from one another, allowing for safe distance between residents. The importance of a safe and healthy home is prevalent now more than ever.
The only issue is that there are only so many houses to go around. We cannot produce houses at the same rate that we produce apartment buildings, and the demand for single family homes, as well as rent prices are sure to increase as our economy adapts to this new normal and begins to recover. Now is the time to consider starting an investment portfolio of houses. Single family homes are relatively simple to acquire, with mortgage rates as low as they are, and very easy to manage. They are the perfect investment for the first time investor. They are also pretty easy to sell as you can sell off your house to any homebuyer at retail prices versus selling an apartment building to another investor who is looking for a great deal.
Do not waste anymore time, and take advantage of the current market conditions that are making singe family houses, the next great real estate play. Call us today to find out how we can help you get your investment portfolio started: (786) 758-3100.