Scott Best turned his first home into a rental house after moving into something bigger. Now, he’s about to buy a house specifically as an investment for the first time.
“The time is right, in my opinion anyway,” he said this week. “The property values are as low as they’ve been for a long time, and interest rates are lower than they’ve been, I think, in my lifetime.”
The combination of price declines, record-low interest rates and paltry returns elsewhere has driven up interest in buying homes as investments, according to local real estate professionals.