Investors are snapping up properties in Carrollton, Texas, and it comes as no surprise. Carrollton is an exciting, and affluent community in North Texas. And right now, property prices are at a low because of Covid-19.
They are at a low for two main reasons: first, Covid-19 stopped everyone in their tracks. We all had to isolate during the shutdown, and people who had been planning to move put their plans on hold for fear of the unknown.
And unknown it was, and still is. Yes, we will recover, but it is going to take time.
The second thing that happened was that, as a result of the pandemic, many people lost their jobs. Footfall in the High Street fell to nothing, yet shops still had rent to pay and staff to pay. How can you afford to pay staff when you have no customers?
So what happened was that many people have lost their jobs. Decent people who have worked all their lives saved for their pensions, and hoped that eventually, they would have the later years of their lives to enjoy themselves and “do their own thing”. Suddenly, in the space of a few weeks, all that went out of the window.
Those same people were unable to pay their mortgages. Lenders have helped by providing payment holidays, but that can’t go on forever, so what has happened is that many people have put their homes on the market. That means that prices have dropped, so now is the perfect time for investors to buy.
There’s Always A Silver Lining
What’s even better from an investor’s point of view (there is always a silver lining) is that many people who are selling because they can’t afford the mortgage are also looking for somewhere to rent while they search for another job.
So, in short, property prices are low, and renters abound. Perfect if you are an investor. Not so perfect if you have lost your job.
However, one of the things that you have to do as a renter is to find the right tenant for your property and deal with all of the day to day hassle of being a landlord.
That is, unless you use us at North Texas Property Management for Carrollton, Texas, rental property management. This is what we do. Carrollton, Texas, property management, and not just restricted to Carrollton, but all the neighboring cities as well.
We take care of finding the right tenants and all of the day to day hassle when things go wrong, such as emergency plumbing, electrical issues, and so on. It is all included in our Carrollton, Texas, rental property management service contract.
All you need to do is to sit back and enjoy your monthly rent check and watch the value of your property increase as Covid-19 gradually recedes and, hopefully, disappears.