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The ongoing coronavirus pandemic has thrown a lot of obstacles our way and one major change for many people in March 2020 was transitioning to remote work life. To so many industries, working from home was a notion that seemed impossible, but with trial and error office workers managed — and even thrived.
In some current cases, there are companies that have decided to opt-out of signing another annual lease on their office space and have asked their employees to work from home from here on out.
It’s no secret that there has been a huge real estate fluctuation throughout the United States over the last year, which has many asking one question: Is investing in a rental property a smart business move post-COVID?
“The pandemic really hit renters’ ability to pay, so many rental investors were caught between mortgage obligations and missing rent checks. As the light at the end of the tunnel grows nearer and brighter, though, employment and rents are starting to rebound,” said Igor Popov, Chief Economist at Apartment List. “No returns come without their corresponding risks, but many Americans will continue to find rentals a strong investment category in the coming years.”
On the other hand, Paula Munger, AVP of Industry Research & Analysis, National Apartment Association is encouraging people to be more cautious.
“The effects of COVID-19 on the rental housing industry, including apartment demand and rent rates, have varied widely by market and asset class,” said Munger. “With vaccine rollout and relief efforts ramping up, we believe that there is some optimism for the years to come but we remain guarded.”
Munger later noted that reports have projected that the national rental rate will likely return to pre-pandemic levels by the end of 2021, and begin to increase by the end of 2022.
If you’re curious about the real estate industry and want to explore opportunities, Roofstock is a great place to start.
Roofstock is a company that allows individuals to invest in real estate (whether you’re buying or selling), with a large focus on single-family homes in a simple, accessible and cost-effective manner.
An added bonus? The entire process can be done completely online and it’s great for first-time investors. Roofstock’s real estate marketplace platform offers many benefits that you wouldn’t get elsewhere, including a unique 30-day money-back guarantee and help from experienced professionals to help you through the entire process and invest with ease.
One aspect of Roofstock that sets them apart from competitors is that you don’t have to be an accredited investor to get started.
Here’s how it works: Investors can choose a property from the marketplace in any area around the world. From there, they can get financial assistance or purchase it with all cash, title the place in their name and then get matched with a vetted property manager that will handle day-to-day responsibilities like maintenance and tenanting. The best part is that because these rental homes usually already have tenants living there or ready to go, they’ll get cash-flow as soon as they close on the house.
It’s free to join and view any property they’re interested in (with no hidden fees!) and Roofstock’s search parameter tools are super easy to set up and use to find the perfect place with the best possible deal.
So if you’ve been on the fence on whether or not you want to take a risk on rental investments, consider this your sign to take the plunge and at least explore the opportunities that are right at your fingertips with Roofstock!
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