Great Time to be a Landlord in San Diego County

Why you ask,  there are over 5,000 San Diego Bank owned foreclosures currently.

Banks generally avoid being in the property management business.  Therefore, these foreclosed homes are left vacant so they can sell them easier.

Basically, the supply of homes for families just decreased by 5,000.

Where are these 5,000 displaced families going to live?  Because there credit is shot by the foreclosure, they are going to rent.

The Wall Street Journal calls these people “The Accidental Renters”

Until these San Diego Foreclosures homes are picked up by investors and rented out.  The supply of rental homes will remain tight with rents rising.

After enjoying life living in their own home, many of these new renters are forced to go to condominiums and town homes due to the low supply of rental homes or the cost of rentals.

If you are thinking about being a landlord,  now is the time to pick up a Bank foreclosure home in San Diego and rent it out to the new renters in the market.

Since the rental market is tight, be sure you have stringent credit requirements of your tenants to minimize any potential rental defaults.

There is tons of opportunity out there.  Be sure to check the active San Diego Bank Foreclosure list on HouseRebate . com.

Tags: bank owned foreclosurers, buying a home, Foreclosures, landlords, mortgages, real estate foreclosures, rentals, renters, reo, san diego foreclosures