Rental properties of one to four units are both a good choice for many of today's investors, and a good area of specialization for many of today's real estate professionals. For many sound reasons real estate professionals may want to position themselves as knowledgeable experts for those who are considering purchasing and operating rental properties.
Why rental properties? For one thing, a growing number of people will seek out new places to live, and an increasingly attractive choice will be renting. In fact, vacancy rates have already begun to ease. A recent study cited by The Wall Street Journal reported that apartment rents rose in the first quarter of 2010 after five straight quarters of declines.
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The Interactive Home Loan Guide
Bank of America has created an excellent program to help your homebuyers gain a thorough understanding of all that is involved in getting the financing they will need to purchase a new home. The online Home Loan Guide first asks if the user is interested in buying a home, or refinancing, or borrowing from home equity. It then continues, step-by-step down the path toward achieving the stated goal.
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A More Effective Open House
As a real estate professional, you know how to hold an open house. You know how to explain the home to potential homebuyers and to describe your marketing programs to potential sellers who visit the house. You know how to advertise the open house to your peers and to neighbors.
As a mortgage loan officer, I know how to explain the intricacies of applying for a home loan to those who visit your open house. I can even help with pre-approval applications for potential homebuyers. I can assist the home seller as well by being a source of information for them, especially if they are dealing with difficult circumstances such as a short sale.
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