Investment properties still finding buyers
John Vanhara Investment properties still finding buyers
Rental units are bought despite warnings of a downturn in pricing.
While many would-be homebuyers have been scared off by dire housing market predictions, Debbie Harris has taken out mortgages on five homes in the past 18 months. She’s among a growing number of fledgling real estate investors around the country using equity earned in overheated housing markets to stake their claims to rental property in more affordable areas.
The investors say there’s no reason to fear the housing market will collapse — although each purchase increases their risks of losing money if prices do take a dive.'’My husband believes there is,'’ said Harris, who runs two cell phone stores. ‘’He’s thinking five houses is enough. I’m thinking, no, it’s not.'’Indeed, investors like Harris believe their investments are secure because people will always need places to rent — especially as homes become less affordable. But some observers say their zeal to scoop up property in emerging areas is helping drive prices there even higher.Mike House, who hosts meetings for a real estate investor group in Las Vegas, thinks a number of markets have already soared out of reach for those looking to spend less than $200,000. Source: mcall.com Read more here.
For more information, contact MillionSaverHomes.com is local Las Vegas real estate broker at 702.212.3513.
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