The share of Americans who invest in stocks has never been higher. More than 61% of households own stocks. Investing is common, but real estate investing is a whole different beast.
Owning real estate is a great way to generate passive income but requires a lot of work. Hiring a property management company can help.
If you want to become a real estate investor in Northern Virginia, these three trends can help you get started.
1. Rising Rental Rates
One of the top real estate investing trends that could increase your passive income is rising rent prices. Home prices and rent prices are high and aren't expected to fall a lot.
Rising mortgage rates are leading to more renters. Many people can't afford a house purchase. The demand for rentals will spike rental prices and maximize your ROI.
Investing in real estate in Northern Virginia will help you see returns due to this trend. Investor profits are increasing as house prices soar.
Another reason for rising rental rates is population growth. Northern Virginia is seeing demographic transformation, leading to more people moving to the area. The area is expected to see a population growth of 11% by 2030.
2. Digital House Hunting
Across many different real estate trends, digitalization is prominent. In the real estate industry, many people look for homes and rentals online.
When you purchase an investment property, be sure to implement 3D tours and virtual property tours.
If you hire a property management company, they can list your vacancies online for you no matter the type of real estate you own. A property manager can help you create an attractive online listing.
Without a digital platform, you can't expect to have much interest in your property. Embrace going digital to match competitors and find the best renters in the Northern Virginia market.
3. The Popularity of Single-Family Homes
Single-family homes are one of the most popular types of real estate among buyers in recent years. Yet, not everyone can afford this major purchase.
This trend is dictated by certain lifestyles that people want for themselves and their families.
Investing in a single-family home instead of a multi-family property can help you make more rental income in the right area. It may be difficult to find the right space because of increasing demand, but keep an eye out for sales.
Renters might be willing to pay more for rent to live in a safe neighborhood from a respected investor.
Real Estate Investing Trends You Don't Want to Miss
This year, these real estate investing trends can help Northern Virginia landlords make money. Rising rental rates and single-family homes can increase rental income. You'll want to stay digital to find the best tenants.
Chambers Theory is here to help with our commitment to a Capacity to Care. Our team of professionals delivers the best services to landlords.
After 17 years in the property management industry, Tommy Chambers began this business in January 2018. Let's partner for higher investment success. Contact us now to learn more about our services.
