Being a Landlord Can Be Increasingly Profitable
Owning Investment Properties in Overland Park is still a good viable opportunity! We haven’t seen the huge losses in prices in the residential properties. In fact, recently there has been a few lenders that has opened up their guidelines to loaning on the rental properties in Kansas City! I have just helped a couple of my investors refinance their properties down into the mid 5% ranges! it’;s awesome! Which has made it so affordable for them!!
According to the Wall Street Journal:
Despite falling rents and rising vacancies, the profitability of residential rental property is improving.
Investments in apartment complexes are generating annual returns of 7-8 percent immediately because purchase prices have declined.
Buying a rental property isn’t for everyone. Buyers need to be able to hold the property for at least three to five years or more to give the investment time to gain value.
Local Market Monitor, which analyzes real estate investments, identifies these good and not-so-good markets for landlords:
Good Markets
- Columbus, Ohio
- Washington, D.C.
- Raleigh, N.C.
- Greenville, S.C.
- Columbia, S.C.
- Kansas City, Mo.
- Oklahoma City, Okla.
- Fort Worth, Texas
- El Paso, Texas
Bad Markets
- Detroit
- Cleveland
- Wilmington, Del.
- Dayton, Ohio
- Orlando
- Tampa-St. Petersburg
- Boise, Idaho
- Stockton, Calif.
- Las Vegas
- Phoenix
Source – WSJ.com on Feb 20,2010. So it looks like Kansas City – is still the best kept secret!! If you are looking for investment properties in Overland Park - let us know! We’re happy to assist!
