To the extent possible, buy based on the worst of times, not the best.
Rental properties are a hot topic right now in Fort Collins. Rents are up, vacancies are down, and interest rates are historically low. At this point in history, it would appear the purchase of an investment property would pose little risk. We contend, however, that this is a potentially dangerous and shortsighted view to take. When we work with investors, our goal is to help them buy a property that is not only easy to rent now but will be easy to rent when vacancy rates are higher (and they will, eventually, be higher). Before writing an offer, we would urge you to consider this: Is this the type of property that is going to be appealing to a quality renter when vacancy rates are up? That is, there will come a time when renters have multiple options and aren’t desperate to find just anything; when this day comes, will they pick your rental or the one down the street? To the extent possible, buy with an eye on the worst of times, not the best.
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