Posted by John Lockwood on June 22nd, 2007
Okay, so it wasn’t on this blog, but I had been advertising my property for rent and I’m glad to say after just a month of moving out of it and three long weekends of prepping it (I say prepping, but we painted, refinished the floors, painted some more, cleaned, landscaped, etc.) it’s finally rented for $1300 a month!
Which is pretty good. But here’s what a lot of people are not aware of with the current market – sales suck, but rents are good. All those people with foreclosed homes have to go somewhere! And chances are they will end up back in the same neighborhood they left.
So, for the first time in a while, rents have inched up a little! Although the aim of buying an investment property is always to make it cash flow, that’s not always the case in Sacramento. But in this market, that dream might just become a reality! So, come on investors – there are a lot of houses out there just waiting!