Rental properties continue to be one of the best investment opportunities available. According to Forbes, eighty-nine percent of investors have at least part of their portfolio in real estate. I have owned, and continue to buy, many homes in central Ohio. I have used the money to fund my children’s education, as well as other causes that are dear to my heart. This is why I buy rental properties in central Ohio:
1. Economic Diversity: Obviously the economy is the largest factor effecting the value of real estate. I like investing in central Ohio because we are not dependent upon a single industry. Unlike areas like Detroit, where their fate is tied heavily to manufacturing, the diversity of our industries shield us from economic trends that dramatically slow down our economy.
2. Economic Stability: Also effecting our economy is the fact that two of our largest industries are the state capital and The Ohio State University. They are rarely impacted by normal economic trends, and therefore create a stabilizing force in the economy.
3. Migration: Central Ohio, for the reasons mentioned above, continues to grow. This will continue to drive up both home values and rents.
4. Home Ownership Trends: The trend among many people, especially the millennial generation, is to choose renting over buying. This trend will continue to add to the demand on rental properties.
5. Rising Prices: Home prices are continuing to rise, which will cause more people to choose renting over buying. This also adds to the appreciation of the property, which you will ultimately be selling.
6. Lending: Lending ratios and credit scores, although they have loosened some, continue to be tight. This also will force more people into renting.
If you are interested in a great long term investment, you should consider real estate. Please feel free to contact us anytime to discuss your real estate goals.
