Attention Baby Boomers! Buy Now and Enjoy Return on Investment!

According to a recent study published by Zillow.com, renters in the US paid $441 billion dollars for rent in 2014 up from $420 in 2013.  This is an increase of nearly 5% in just one year.2014-01-12 11.15.30

The closest market to Naples that was analyzed was Miami-Ft. Lauderdale.  Rents increased from $9.7 billion in 2013 to $10.5 billion in 2014, an increase of 7.7%. This translates into a monthly increase in rent of approximately $59.

Zillow Chief Economist Stan Humphries is quoted as saying:  “Over the past fourteen years, rents have grown at twice the pace of income due to weak income growth, burgeoning rental demand and insufficient growth in the supply of rental housing.”

This is certainly true in the Naples area and is a great opportunity for baby boomers who are considering retiring in 5 to 10 years.  Why not purchase a home now while our prices are relatively low, rent it out for a few years and let the tenant pay for the upkeep, taxes and any fees?  When you are ready to retire you can either live in the home or sell it, make some money and buy the home of your dreams.  It is a much better rate of return than anything you can get in the stock market at the moment and it is a tangible asset that allow many tax deductions for you also.  Sounds like a win-win situation!

I have worked in property management in the Naples area for the last 12 years and I have seen the demand and lack of inventory for rental homes as we are seeing now.  I would love to help you find a good investment that will make a great rental property and manage the rental for you while you sit back and enjoy the profits.  Let’s talk about the benefits of being a landlord in the Naples area, call me today!

Remember it is always toasty in Naples and you deserve your piece of Naples sunshine and a wonderful investment for your retirement.

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