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Is It Time to Own Rental Property?

Bad news about real estate, home prices and mortgages is something to which we're accustomed.  We've been bombarded by it for three or more years now.  And, it's taking its toll.  Surveys are showing that the lure of home ownership is not what it used to be.  Many who would normally be considered on the road to first time home ownership are saying that they don't want to buy.  Instead, they'll rent for an extended period.  It's not hard to see why.  Most of them have friends or family members who have losthomes in foreclosure, or are stuck with homes worth far less than their mortgage balance.  So, this group wants to rent.  And, they want to rent for a while.  So, investing in the right rental properties now could be an excellent investment decision.  While no survey has specifically addressed their desires in home features, it is logical that the plan to rent for a longer period will also bring with it desires for more features and benefits; the kind that will make it palatable to live in one rental home for an extended period.  So, if investors buy the right rental homes now, they should be able to realize positive cash flows from market rents that reflect this desire for nicer and more permanent rental residences.  But, there's another possible diamond in this story.  The housing markets will recover.  Reactionary lending practices will get more customer focused.  When this happens, at some point the old desire to own a home will come to the forefront once again.  The investors who own these rental homes should see appreciation and an opportunity to sell the properties at a profit.

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