Is Now The Right Time To Buy Another Portland Oregon Rental Property?
Are you thinking about adding a new Portland Oregon investment property to your portfolio but you don’t know if now it’s the right time to make your move or not? If so, you’ve come to the right place!
The answer to the question of if now is the right time for you to add another property to your portfolio or not is yes and no. Yes, you should buy another property right now if you’re ready to buy and no, you should wait to buy another 4-8 months to add another property to your portfolio of Portland Oregon investment properties because great deals should come to market by the end of the year or in 2021.
Why Wait To Buy Another Rental Property?
Why should you wait that long? The answer to that question is that the economy, and the real estate investment market in Portland, have not hit bottom yet since we are still technically in the early days of the next recession.
Every investor should be willing to take the time to wait for the market to drop before they make their move and start searching for new investment properties to add to their portfolio.
What If You’re Ready To Buy Now?
The deals are always going to be out there, so if you’re ready to buy another investment property right now, you should move forward with your goal to purchase another property but, if you’re willing to wait to purchase another rental, you should be willing to wait and purchase another property when the time is right.
What should you be doing in the meantime? The answer to that question is simple, while you wait for four months, eight months or up to one year, you should be focusing on building your cash reserves so that when the time does come to buy a new investment property, you’ll be ready make your move and purchase one or more investment properties for your portfolio.
Contact Rent Portland Homes – Professionals
At Rent Portland Homes – Professionals, we’re experts at all aspects of property management including rent collection, maintenance, customer service, collections and more! Our property management team will save you the time, money and hassle of growing your portfolio of investment properties and avoid the time commitment of property management.
Unlike other property management companies that have only been working in property management in Portland OR for a few years, our company has decades of combined experience as we look forward to the opportunity of earning your business.
To learn more about what’s happening with the rental market in Portland Oregon, or to speak with us about our Property Management Services, contact us today by calling (503) 447-7735 or click here to connect with us through our website.