Mortgage rates have just hit an all-time low, many homes have equity in our Cheyenne market, and rentals are scarce.
What does all that mean for you as an investor, and why should you get off the fence with investing in Real Estate? Let’s go through some of the basics of Real Estate investing and take a look at some great rental and commercial opportunities available right now!
- With the mortgage interest rates dropping lower than ever, income-producing properties are getting much easier to get started with! Lenders are your best source for getting started and figuring out where your interest rate will land for an investment or commercial loan. Always check with your lender to see how you can start the process, and check with your local Realtor® to start viewing the potential properties available to you!
Home Equity and how you can use it
- Have you checked in with your friendly local Realtor® lately to see how much your home is worth? You might be surprised at the equity your current home possesses. Many investment loans will look for a higher downpayment, but fear not! This is where those low-interest rates, refinancing and knowing your own home value can come in really handy. Even if you are needing to borrow 10%, many homes in Laramie county may have appreciated 10% of their value in just one year, depending on condition and location. Talk with your lender to confirm you may qualify for these terms, and always check with your current mortgage company to establish your best game plan!
Scarcity of units available
- With so many people moving to Cheyenne for work, to commute to a bigger city, or even just to retire, more units are needed to accommodate this increase in demand. As an investor, now is the perfect opportunity to jump into the investment game or to buy a commercial property and get new businesses into the community.
Rate of return
- Laramie county Multi-Family real estate has climbed 31% from last year, and the average over 5 years has seen a 13% increase per year. These significant gains over time are a great example of smart investing, with your investment gaining value over time while also making you passive income during the time you own it! What a win-win!
Armed with all this great information about investing, I bet you are ready to start taking a look at some properties. A great multifamily investment was just listed by the True Team 500 East 17th Street. This property is a 6 plex, with long term leases and steady income. Call for more information or to schedule a showing!
For more tips or information on commercial or multifamily investing, call the True Team at RE/MAX! With a combined 23 years in real estate, and 20 years of investment property experience, the True Team can help you find the property that is right for you! Call 307-630-8290 or 307-287-7320 or connect online at cheyennehomestore.com to schedule an appointment with us today!