Investing in today’s market

More buyers and investors see the value and opportunity of investing in today’s housing market.  With approximately 6.5% interest rate for a 30-year fixed mortgage and a healthy rental climate, most investors get positive cash flow after putting a 40-45% down payment.  That sounds like a lot of down payment. The good news is that with interest rate expected to drop, homeowners can refinance to reduce their monthly mortgage payment. The challenge right now is getting a property that is easy to rent out. Ask your agent to provide rental history of the community that you are interested in. Review the number of days before the property is rented and the going market rent so you can calculate if the rent could cover the mortgage, property tax and homeowner association fees. It is important to know all the numbers before diving into the investment.