I was asked by a fellow REALTOR about the best economy in which to buy a rental house. I had to stop for a second and realize how silly the question really is. At least in my mind.
Now. This one. This is the best economy to buy a rental house. Or the next economy. Or the one after that. Or the one 5 years ago!
Yes, those that bought investment property in 2009-2011 are doing great compared to now. But, frankly, if you bought your income property correctly, even if you purchased in 2006-2007 when price versus value was sky high, it was a great time to buy a rental house. (Those people may have bought high, but it’s 7-8 years later and tenants have been paying down their loan balance, etc.)
There is no time like the present to start your retirement savings.
Yes, your returns will fluctuate depending on your interest rates (if financing) or your local city’s vacancy rates. But people always need to live in houses. People will always prioritize housing. Heck, I’m so old I remember my parents buying houses with interest rates in the mid teens. Yes, 14.5% interest. (I just heard a 30 year old ask “What the F@&%?)
Start your retirement TODAY. If you have the funds for some real estate in your retirement mix, start today. I’m just sayin’.