Dennis Schwab of First Weber Group Oshkosh (left) and Randy Schmiedel (right) met at the American Table in Oshkosh to discuss investing in rental real estate in today’s market. Randy, a local real estate investor, wondered if now is a good time to add to his rental property portfolio and also, if it would be a good time for someone interested in getting into owning rental property to start.
"Absolutely," said Dennis. "It really is a good time to invest. Interest rates are the lowest in 50 years… and money is readily available if you have good credit. Investors have a lot to choose from because the inventory is the highest its been in years and sellers are motivated."
Dennis finds that small single family homes rent especially well and that there are a few more renters in the market now due to foreclosures. Those people are apt to rent a single family home.
"Everyone wants a home of their own if they can find it," said Dennis. "They want a home, but do not want the costs and responsibility of owning it. They want to know exactly what their monthly payments will be and that their money will cover everything, so they rent. Another source of renters are people that relocated and want to rent for a year or two before they buy a home," said Dennis.
With the low interest rates, high inventory and market favorable to buyers, now may be the opportune time to expand on your rental investments, get started as an investor, and yes, even buy a house to owner-occupy. If you’d like help in exploring your rental investment options or buying a home in the Oshkosh area, please contact Dennis or Gail Schwab.
Dennis and Gail invite you to ask them your real estate questions. Your question could turn into a story in the HomeRun magazine and a post on the First Weber Wisconsin real estate blog. Contact Gail and Dennis Schwab in First Weber’s Oshkosh office.
Thanks for reading the First Weber Wisconsin real estate blog about investing in rental property in Wisconsin.