How long will this rental market stay this way?
Have you looked at the rental market lately? There are so few rentals available that usually when someone puts a rental in the paper they field a few dozen calls and end up renting the house for a premium. Often with longer than average leases AND with first, last and a security deposit.
I don't see the rental market weakening. There are just too few homes available and if lending guidelines become more restrictive (they aren't getting any easier) then more and more people will have to rent.
Why not consider buying a rental yourself? Or go through your database and find clients you have worked with in the past and recommend purchasing a rental property or two. There hasn't been a better time to buy in Grand Junction in years and it is still possible to cash flow on a rental, not to mention all of the other benefits that come with owning an investment property.
Put together a packet of information and send it to your best clients. Call me and I can help you with some of the information you might want to share. I will even go the extra mile and give you a Cherry Creek Mortgage Company folder for all of your information :)
This is a tremendous opportunity to close a transaction or two that you wouldn't close otherwise.
Kevin Wade
kwade@ccmclending.com
Cherry Creek Mortgage Company
970-243-7800 - Office
970-201-2310 - Cell
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