When the tide goes out you see who is swimming naked

[David Jay]

My local market, Reno NV, has had massive price appreciation and rent increases over the past few years. I bought most of my inventory during the last downturn so my monthly payments are pretty reasonable. Just having my first vacancy in a while. The tenant was there seven years, so can’t complain. During the summer, this popular neighborhood would have less then five vacancies and a Zillow ad could hit 100 responses. I’d say over the years you might see 10-15 vacancies at any given time. Now there are over 30 sfr available and we are moving into the slow time. For me it’s not a problem as I can price aggressively and still cash flow well. But I have to wonder how many are more recent purchases that were banking on a frothy rental market that seems to be cooling. Anyone else see a cool down coming in their area?