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Is now the best time to buy a rental?

When to buy a rental?. Every Monday morning we hold a virtual meeting for all of our Keyrenter franchise owners. With over 50 offices now in 19 states, we use this time to train, share ideas, and inspire each other.

Today I led the discussion on the topic of Creating a Path to Building a Real Estate Portfolio. Since our mission is “Creating Wealth Through Real Estate”, we feel that it’s really important that each franchise owner owns one or more rentals. Not only is owning rentals one of the 2 greatest paths to wealth, but it’s also critical that our property managers can relate with a property owner. 

When there’s a challenge, our clients deserve to know that the team they work with knows what it’s like. In addition to discussing where to find properties, financing, entity structure, partnerships, and portfolio planning, I also asked the question. Why not now? and if not now, when?

What is holding you back from buying your first or your next property?

If it’s financing, there’s a way to buy without money and even credit. For example, if you find a property that could work well as a rental, and you put the word out there, the credit and money will come to you in the form of partners. Sometimes people feel like they need to do it all on their own, but they don’t have to.

I also asked the group, when is the best time to buy a rental? And the answer, similar to planting a tree, is always 20 years ago, or now.

And my invitation and challenge to the group was this, in the next 6 months, by the end of the year, buy your first or next property. I extend that invitation and challenge to each of you as well. By the end of 2021, buy your next rental property. On your own, with partners, however it is. Go for it. If you want help with it, or you have a property you want to partner on. We have so many resources for you to help you get there.

So, do you accept my invitation? If so, leave a comment, like, and share this video telling others about your goals. When you put it out there, it’s amazing how things work to help you accomplish them.

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