46% are enjoying the new-found benefits of home renting. They are appreciating the flexibility that goes with renting an apartment particularly the option where they want to reside.
Los Angeles, CA (PRWEB) April 17, 2014
People are not planning to leave their apartment anytime, and the resilient demand for apartment rent made the vacancy rate on apartments declined to 4.1%. Based on the national survey done by Apartments.com, 44.1% of renters nationwide are previous homeowners. The survey showed a huge increase from 2013’s 35.1% and 33.6% from 2012. This sudden rise in demand shows a good investment opportunity particularly to account owners of the Solo 401 k plans.
According to the survey, most of the former homeowners choose to rent because they are no longer capable to afford homeownership. 54% of renters who formerly own a home would still hope that they have their own house. The 46% are enjoying the new-found benefits of home renting. They are appreciating the flexibility that goes with renting an apartment particularly the option where they want to reside. Other benefits of renting an apartment vs. owning a house are the low maintenance, absence of unexpected house repairs such as clogged sink and leaking toilet to name a few.
Other reasons for the significant increase of former homeowners that are now renting include foreclosure, divorce, relocation due to work, and the affordability of renting. Solo 401 k plans with investment options directed to real estate will certainly achieve growth especially that the pattern in apartment rentals is rising and is expected to continue for the next couple of years. Purchasing properties intended for home rent using the money from the Solo 401k plan is one of the options an individual can do in terms of real estate investment. This kind of investment will give an individual the opportunity to manage the property and act as a landlord.
Another option for account owners of the Solo 401 k plans is to invest the funds in a real estate group that develops and sells apartment units to investors. The group will be in charge of finding potential tenants to occupy the unit. They will also take charge of maintaining the units, and in case of vacancy, some groups will cover mortgage payments by collecting portion of rent from investors.
Sense Financial is California's leading provider of retirement accounts with "Checkbook Control": the Solo 401k and the Checkbook IRA. Over the years, they have assisted hundreds of clients obtain checkbook control over their retirement accounts while providing them with the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval.
To learn more about the solutions they provide, please contact: (949) 228-9393