A recent article on Realtor.com says small-scale landlords continue to crowd out larger players when it comes to scouring affordable metros in search of bargains they can rent out at a healthy profit margin. They say the investment landscape is becoming more divided between high-priced Western and coastal states and more affordable heartland states.
…in more affordable Heartland states such as Michigan, Maryland, and Wisconsin, investors are zeroing in on the lower end of the housing market, sometimes paying less than half of what a typical homebuyer would.
“Even as investors pull back from [COVID-19] pandemic-era activity, they’re facing fewer headwinds than many typical buyers…With affordability still stretched and inventory tight, many would-be buyers remain sidelined, giving investors a larger share of the market and, in some areas, more influence over prices.” Said Danielle Hale, chief economist of Realtor.com.
Click here to read the full story at Realtor.com.
