Understand Your Area Series: What is the Demand for Rental Units?
Lamar Hunt, Jr. asks one question: “Are people renting homes in this area?” It’s a simple yet vital question that any real estate investor should ask before he or she jumps into an area. As the Founder/Managing Partner of Loretto Propeties, LLC., Lamar Hunt believes that while focusing on a target area is critical to any investor’s success in real estate, the first task to be accomplished is running a report on how many homes have been rented out. “This report should be broken down into three parts: a six month window, a one year window and a two year window. Then, look for trends to see if the rentals have increased or decreased in the last six months….one year….and two years.” This data, Mr. Hunt believes, shows a realistic view of the rental market in a target area. Please check out the blog at http://lorettoproperties.com/ for more good information in this continuing series. Of course, you can also call 913-236-2902 if you have property to sell.