OfflineI'm curious how others determine which areas are predominant for renting compared to fix & flip, wholesale, etc. I rented when I was in college, so I can see how a college/university area would demand high rental units. But what other type of people rent? What other local factors can contribute to a high number of rentals? And why would people rent when they can do a L/O instead? I feel like I'm stuck seeing only one side of the coin. Can anyone please help clear this up for me? Thanks!
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There are many reasons why people rent. They may have moved to a new area or have been relocated for a job and want to learn about the area before they commit themselves to a major purchase or a long term agreement. Some people are afraid of commitment and uncertain of their future. They enjoy the benefit of being able to move from place to place on a moments notice. Some people I have met are afraid of having to pay taxes - which in those instances the taxes were very low! Some people have the fear of a lease option and not being able to perform when it is time to purchase and miss out on all of the benefits like if there was lease credits or a great agreed to option price.
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