Gay real estate Portland says its time for property investors to rejoice. Portland is now enjoying a resurgence of renters. In fact many realtors are calling this “the renting class.” Gone are the days when people wanted to scale back and suffer financially so they could get some equity in a first home. Too many home owners are going bust for new nesters nowadays to be attracted to this prospect. This generation of new nesters is interested in freedom, life-style and not slaving so banks can be rich. The attitude is “well we might as well rent until the times change (job market improves) and we can actually afford to own a home.”
These new nesters are thrilling property investors who need to buy and renovate places for all of these people to go. According to gay real estate Portland, every single type of housing is in demand. People are looking for condos, small apartments and full homes to rent for a family. The condo is also cheap for investors to buy in Portland and many condo associations are being more relaxed about their rules when it comes to letting tenants occupy units.
According to figures that gay real estate Portland has, the property investment business in this city is about to get even hotter. Rents are increasing every year while the vacancy rates become lower. Becoming a Portland landlord could become a very lucrative endeavor indeed especially when you consider that many of these new nesters do not intend on ever owning their own home. They intend to spend their entire life cycle as renters, simply moving from an apartment to a family home when it comes to having a child. This way they escape the headaches of expensive house maintenance, paying property taxes and paying insurance. In fact, this generation is living with much less disposable income per year then people who are typically homeowners.
Equity seems to be a blessing for the rich and if you want to own a home you have to have a stellar credit rating and also a great deal of back up cash to make sure that the buying of your new home has this. Today’s American citizens, under the age of 25, have not necessarily been in this type of position because they have not been able to make enough money to get the capital to buy a house. Many young people also do not have the savings or the credit rating to buy a house either. The answer, obviously, is to give people what they need and turn homes into rental units that people can afford.
Many of today’s Portland residents are free spirits. They would rather spend this money on an artistic career, the opportunity to travel or on helping an elderly member of their family get through their senior years.
Gay real estate Portland highly recommends that investors rehab homes into rental properties. It seems at this time that both the demand and the buyer’s markets make the possibility of this making the buyer enormous profits more likely than ever.