The single-family rental sector is currently having its moment. The future, too, lies in single-family, purpose-built, for-rent apartments. According to the Q3 2020 Single-Family Rental Investment Trends Report, the occupancy rate, even during the pandemic, has hit a generation record with upward pressure. While 2020 may be a year most of us want to forget, it’s one that lends itself to raising our real estate literacy.
Investing in property? Evaluate the neighborhood
Don’t let property investment daydreaming create unrealistic expectations. It’s a major financial decision. Research the ROI data of the places you deem profitable, study the crime rate, explore its conveniences, analyze the expenses of owning/renting the property, and see whether or not the neighborhood is filled with foreclosure signs. Don’t forget the future the community holds to save your time, stress, and money.
Teaching kids finances through real estate investment
Kids realize that money holds value once they reach a certain age or are nurtured with a specific mindset. Finances are a scarce resource. Thus, their training must start early. Open avenues of relatable topics and encourage questions. Introduce them to real estate concepts and teach how smart work can help build wealth.
Afford a mortgage and tame student loan debt
Student loans do prevent borrowers from homeownership. But that doesn’t have to be the case. Focus on maintaining credit scores, keeping credit utilization low, looking for down payment assistance, consolidating credit card debt with personal loans, and managing debt-to-income ratio are all super smart approaches.
Homebuyer myths are hard to debunk
With loads of information to sift through, distinguishing fact from fiction is challenging. Don’t fall for apartment buying or renting process myths. Equip yourself with the latest trends and make the right choice for your financial future.
For further information on the latest apartment trends, renters’ activity, and more, call us at 817-295-5959.