The New American Dream – Renting
The Wall Street Journal runs an article regarding the increase in rentals. The forebodes well for the foreclosure investor. With so many homeowners losing their homes, they still have to have somewhere to live. Since mortgage loan requirements have tightened considerably, most of these individuals have to go back to renting. Which means that homes or apartment complexes near schools, or multiple bedrooms are poised to increase, simply because families with children will need that extra space. While they may not have been able to afford owning a home, they will go back to renting, where you don’t have to have a big downpayment, you don’t have to carry insurance if you choose not to, and credit checks are mostly minimal.
Now is a great time to flip a foreclosed home back to renters or invest in multi-family units. Check out the WSJ article.
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