News from the Mortgage Bankers Association, about 30-year mortgage rates now being above 5 percent may not be good news for potential homeowners, but it’s definitely good news for those who own – or are looking to own – rental properties.
In this issue, PB Financial Group – leading hard money lenders in Los Angeles – will discuss how you can capitalize on the projected growth in demand for rental properties.
While 30-year mortgage rates are above 5 percent, they’re expected to continue to increase throughout the year.
The west coast cities of Los Angeles, San Diego and San Francisco are highly sought after cities to live in, and are expected to remain desirable.
Those wanting to buy homes, however, may be priced out of the market – making rental properties a far more attractive option. Rather than trying their hand at a bidding war, many potential home buyers are expected to take their time in making a buying decision.
How Should I Adjust the Rent on My Property?
When higher mortgage rates increase the number of potential renters, it can be tempting to increase the rent amount. While the goal is to make as much money as possible from your investment property, it’s wise to keep the rate comparable to other properties in the surrounding neighborhood.
For Answers to All of Your Hard Money Loans, call PB Financial Group Today
If you have your eye on an investment property and don’t want to let the opportunity slip away, we strongly encourage you to leverage the expertise of a hard money lender in Los Angeles who can provide you with the funds needed as well as the expertise to make your investment a success.
PB Financial NMLS #357614/CalBre #01522495