Good News: Rents are going down!
Rents decreasing is just fine with me!
Apartment rent growth is declining fast, shifting the rental market to the tenant’s favor for the first time in years. The average of six national rental price measures from rental listing and property data companies shows new lease asking rents rose just under 2% over the 12 months ending in May.
That rental price percentage increase is down from the double-digit increases of a year ago and represents the largest deceleration over any year in recent history, according to data firm CoStar Group and rental software company RealPage. We track this same data within InvestorComps as part of being a virtual real estate investor.
This annual decline will offer relief for millions of renters who have had to contend with rents that rose 25% nationally during what I call the Pain-demic. With housing costs as the biggest component of the consumer-price index, a decline in rents also would help ease inflation. (See chart)
However, as virtual real estate investors having more active renters to fill passive income properties is music to our ears. Can you say “Cash Flow”?! I know you can as it is the fuel that turns our Self Directed IRA’s, Cash, FLP’s, etc., into the large balance accounts that give us freedom, choices, and lifestyle.
Foreclosures are coming!
This year the VIP+ Community as well as newcomers are celebrating foreclosures differently. We will first gather in Salt Lake City. Second, since we are “Virtual Real Estate Investors”, the “10th Annual InvestorComps Foreclosure University” will be live and streaming. At InvestorComps we know how to put on a real estate training.
But what really matters is the VIP+ Community is coming together to share and collaborate on all the new ideas and practices of virtual real estate investing. It wouldn’t be a VIP+ event if you couldn’t get all the goods to Invest Anywhere, From Anywhere with confidence and control.
I welcome you to be a part of the growing InvestorComps VIP+ Community. I and the members look forward to seeing you at the Foreclosure University on Oct. 27th. Your admission is completely complimentary as a member.