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“Because our market has rebounded in such a way, prices are too high for the average person looking for a rental investment,” he said. “In most cases, after the financial analysis, the numbers just don’t make sense.”
Eric Visker, a part-time real estate investor in Rosemount, bought two rental properties at the height of the housing crash, including a suburban bank-owned townhouse that he bought for just $35,000 in 2011. Now that it has appreciated, he’s ready to sell it — and reinvest the profit in another more expensive rental.
Trouble is, he said, rents haven’t risen at the same pace as home prices, so he’s having trouble finding one that will generate cash flow.
“It’s not as easy to get your hands on those low-dollar houses,” he said. “It’s slim pickings.”
Jim Buchta • 612-673-7376