You’re not alone.
You may have been considering investing in rental properties to build long-term wealth. Real estate is one of the best ways to build wealth, hands down. There are so many upsides to it – depreciation, appreciation, tax benefits, the ability to collect a regular check (assuming the tenants pay each month), and leveraging properties to acquire even more “doors”.
Traditionally, real estate has been a favored alternative to the stock market. When things have been up-and-down on Wall Street, and volatility wiped out gains in the blink of an eye, investors have looked to real estate to help stabilize their portfolios. And you may be considering doing the same, now that the stock market has been on such a crazy ride.
Problem is… a lot of the old protections in place for landlords / property owners have been eroded by the COVID-19 pandemic.
Eviction moratoriums and permission to not pay rent have allowed tenants to stay in units long past where they usually would be allowed to. This has caused many landlords a whole lot of heartburn — and forced them to question the wisdom of renting out their properties, in the first place.
To a new investor considering getting into rentals, this raises some flaming red flags. What if your renters turn out to be unwanted? Trouble tenants may not be able evict-able, even if it’s due to destruction of property. They may also choose to not pay rent, so you have the double whammy of a damaged property and renters who don’t pay their way.
Obviously, it’s not the same, every single place you go. Each locale is different, and state regulations vary. But even so, navigating the COVID-19 legal landscape can be about as confusing as you can ask for. Especially for someone looking to get into real estate for the first time.
That’s why we love travel nurse rentals. They “check the boxes” in so many ways. Whether you’re looking for higher quality tenants who are employed and able to pay the rent, or you’re looking for renters who are shorter term (but not rowdy STR guests), travel nurses make a great option for property owners.
Find out more about what makes them so great. Check out our 5 Reasons why they make a great option for landlords looking to cash flow.