- Is the market in your state slowly collapsing under its own weight?
- Are you having trouble finding opportunities close to home?
- Perhaps you’ve heard about the powerful Washington, DC market.
Are you interested in becoming an investor in the DC area? You can be when you work with the right DC property management partner.
One of the most common ways to diversify a portfolio that has tapped out your local market is to stretch your boundaries as a property owner and find opportunities that better suit your financial goals elsewhere. That could be in the next town over or in an entirely different rental market.
You don’t have to live near a property to invest in it. Many of today’s investors have portfolios with property spread across multiple rental markets to decrease risk. If you decide to expand your holdings into the DC area, working with the best property management, DC investors, is the easiest way to have all of the control you desire with a bigger financial payout.
Investing in Washington DC Offers Plenty of Benefits
DC is one area where the rental market never seems to slow! With the employment security we enjoy from both the federal and military hiring presence in our nation’s capital, we’re a worthy market for a growing portfolio.
Demand for Property Is High
The industry demand for available properties for rent in the DC rental market is up. While there is some expectation that COVID-19 may temper this demand, that has not been the case recently. If there is a demand for rental properties, that could mean now is a good time for you to invest here. This demand may be nonexistent in your current market—or may not support an elite investing experience with serious ROI.
The Market Is Competitive
The Washington DC market remains highly competitive. It is possible to find a bargain on a home for sale just outside of the district, but there is a good amount of competition.
Buying a home in a time when home values are rising could mean you open up the door to home equity sooner. Reports indicate home values in DC are on their way up right now. The one year change in home values is about 3.2 percent, up in mid-2020 compared to 2019.
That trend could change as the COVID-19 bubble starts to slow, so if you’re thinking about investing in a new rental here, the best move to make would be to consult with your DC property management partner for a rental price analysis.
DC Has a Thriving Economy
While the markets across the US remain on guard during our recession, it is clear that buying a home for rental benefits in an area with strong economic factors is important. The DC market is a prime place for rental properties: the buzz here never slows down! If you want to find higher-paying renters for high-quality properties, this is a good market to be a part of right now.
There’s Plenty to Invest In
As you start to look at this market, consider the versatility it brings to the table. Many people do not realize just how many home styles are present here. In the DC rental market, it is possible to own larger, single-family homes, condos, lofts, and rowhomes. Apartment buildings, including those with penthouse properties, are readily present in our metro. No matter what type of real estate you buy, chances are good that it is represented in this region.
You Buy It, We’ll Manage It!
What many people do not realize initially is that buying in another metro area or state from where they live can be not just possible, but profitable. If you live in an area where the market is not as competitive or where buying a home for rental income isn’t affordable, think outside of the box. You already know you don’t want to give up on the goal of owning real estate: the good news is, you don’t have to! Rather, you need expert help in managing that property abroad, and our professional Rent Estate™ Advisors are the perfect way to do it.
At Renters Warehouse DC/NOVA, we work with individuals who want to grow their portfolio—no matter where they live or what financial vision they are after. As a local DC property management firm, we have a strong presence in the area and the skills to meet your every need as an investor. Whether this entails the management of day-to-day tasks at your rental properties or aiding in research to find your next investment, we handle every detail! We can also help you with setting your ‘bullseye’ rental price, improving profitability, and managing maintenance costs.
If you’ve wanted to expand your portfolio, but you have waited a long time to find the right market, we encourage you to reach out to Renters Warehouse DC/NOVA today! Our experts will help you compare available properties to find the ideal location for your next investment.
For more tips on sustainable growth in the DC area, download your free copy of our Guide to Real Estate Investing: Grow Your Portfolio!