- Published on Wednesday, 04 May 2011 17:06
- Written by Super User
- Hits: 613
I sit here today going through all of our rental property mortgage statements and start to see things that really get me excited. I am finally seeing the principal balances starting to drop considerably. We have a portfolio of properties that other people (tenants) are paying off for us. As I see the principle balances decreasing, it translates to some light at the end of the tunnel. From our perspective, these properties are on a 20-25 year plan. This plan began in 2003.
In my opinion, the next 3 years will be an unbelievable time to start scooping up buy and hold properties. With the trouble going on in the world and the fact the Federal Reserve is going to keep interest rates low for the next couple of years, this means opportunity for people wanting to get into the market. Here, in Philadelphia, we have seen rents jump in price about 8-10% in the last year! Love it!
Just remember the 3 most important parts of real estate investing...........LOCATION, LOCATION, LOCATION! Mitigate risk, by securing the right location.