KILLEEN, TX -- (Marketwire) -- 03/11/13 -- According to the professional real estate agents at Linnemann Realty Killeen TX, the current housing market has created a unique investment opportunity for those who own multiple properties. With mortgage rates at a low and rental demand at a high, many individuals who already own homes are renting out their properties as a way to earn additional income. Also taking note of this emerging investment trend, a recent article from The San Francisco Chronicle reveals, "Throughout the downturn in the housing market, average investors, sometimes pooling their money, have bought foreclosures at a sharp discount and turned them into rentals. Many homeowners also have purchased a second home and rented out their first property."
The article continues by offering a series of tips for new landlords, noting that the process can be rather overwhelming for newcomers trying to produce an extra income. Among these suggestions, it states that although rental demands are high, it is important to note that this consumer trend is in direct relation to the current national unemployment rate -- relatively high at 7.9 percent. Keeping that in mind, the article advises prospective landlords to assess the financial risk that comes along with welcoming tenants into a property. In response, Chris Princis, senior executive at Brook-Hollow Financial, advises in the article, "Real estate is a great investment if people are paying their rent. If they're not paying their rent, it's a horrible investment."
Although many future landlords may choose to go into the business independently, some may require additional assistance. As a professional property management service, Linnemann Realty of Killeen, TX explains that enlisting the help of a management firm is one of the smartest moves a new landlord can make; however, that choice must be made wisely. In a recent press statement, the company adds, "When it comes to choosing a property management firm, it is important for the prospective landlord to research who they are using and definitely refrain from price shopping the property manager."
According to Linnemann Realty, efficient and effective management is key to developing a long-term landlord venture. However, the company also explains that new landlords must exercise patience when exploring the new investment opportunities of rentals. "We advise that new landlords do not rush into a foreclosure purchase just because they 'want' to. It is important to take time and strike when the deal is perfect. There are plenty of good opportunities out there, so it is wise to make sure not to make a rash decision," Linnemann Realty Killeen, TX concludes in its press statement.
Linnemann Realty Killeen TX provides professional property management services, as well as assistance with buying, selling, and renting homes. Serving Copperas Cove, Killeen, Harker Heights and Kempner, Linnemann Realty Killeen, TX manages single-family homes, duplexes, fourplexes, small apartment buildings and some small commercial buildings. The business' inventory offers everything from small one-bedroom apartments to luxurious homes found in some of the finest neighborhoods in Central Texas.
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