Author: Paul Branton
It’s the time of year we fill out brackets, “pool our money” and watch lots of basketball!
While that’s a ton of fun, did you know it’s also one of the best times to get under contract on investment property?
Spring is here and summer will arrive before we know it, and that means folks will be moving. Typically, when you acquire an investment property, it’s vacant, so it makes sense to have it available for occupancy during the time when more people are relocating. According to a report released by AMSA, the American Moving and Storage Association, the most popular months for moving were: May, June, July, August and September.
With that in mind, here is my suggested timeline for March Madness – Investor Style:
- March-April: Locate your ideal property and get it under contract.
- April-May: Close on the purchase, make improvements to maximize rental rate and lower vacancy
- May-June: Market the property, screen and qualify tenants and sign the lease.
- June-July: Tenants take possession, love the home and stay for multiple years!
In addition to capturing this “moving season” for new acquisitions, the team at Home Rental Services does their very best to negotiate leases so that they will end or renew in April, May, June or July.
So, who is your pick to win this year? Don’t forget to fill out your bracket! The tournament starts on March 14th and ends on April 3rd.