4 Tips on Buying Investment Property
Roseville, CA- Have you had thoughts about becoming a landlord, buying a property to rent to reliable tenants and collecting monthly rent?
If you have the ability to follow through on these thoughts there are plenty of condos and homes you could consider buying and renting out. The difficult part is picking the right property and tenants.
Here are four tips to help you create a positive investment.
1. Days on Market
There are many things to consider when buying an investment property and one tip is to watch how long homes are staying on the market in likely neighborhoods. When you see Days on Market for a neighborhood falling it may be a sign price will be going up soon. Making your purchase before prices increase could lead to greater appreciation.
2. Specialty Stores
Look for properties in neighborhoods where specialty and high end stores are close by. This could include stores like Starbucks, Nugget Grocery, Trader Joe's and Whole Foods. These chains do a significant amount of research on locations and you can ride on that knowledge. Being relatively close to these kinds of stores improves the desirability of your property
3. Positive Cash Flow
Make your profit when you buy. Your income should cover your costs upfront. If you are looking at what you could make after renovations or time passing you are making a mistake.
Make sure you have the resources to run background checks on potential tenants. Do not believe what a previous landlord or seller has to say about, "Always pays on time." It is worth the cost of buying a service such as TransUnion for current or potential tenants. Ask to see pay stubs to show if the tenant has sufficient income to cover costs to live in your property
If you keep these four tips in mind when purchasing and renting out investment property the probability of having a positive experience will increase dramatically.
If you are interested in buying or selling investment property and have questions please feel free to contact me. I can be found at the MagnumOne Realty office in Roseville (916-899-6571) or by email to firstname.lastname@example.org
About Realtor Julie Jalone
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Pet Care | Real Estate | Restaurants | Tech | View All | * Add/Upgrade Business
Placer County News HeadlinesAnnual Warrior Golf Classic at Catta Verdera in LincolnLincoln, CA - WJU Athletics will be hosting the 19th Annual Warrior Golf Classic at Catta Verdera Country Club in Lincoln.
Leadership Rocklin Creates Community LeadersROCKLIN, Robin Trimble, CEO of the Rocklin Area Chamber of Commerce, announced that the Chamber will once again host the prestigious Leadership Rocklin program.
Roseville Flash Crime Report (6.23.17)Roseville, CA - Digest summary update of police activity for Roseville covering the period of June 12-22, 2017.
9 Classic Songs That Stand the Test of TimeRoseville, CA- Music history is filled with terrific songs that don't always age so gracefully. They often mark a point in time and include less than stellar recordings
Sacramento Public Library seeks local authorsSacramento Public Library seeks 45 local authors to showcase their work at its upcoming local author fair
16th Annual Art, Wine and Music Festival at Squaw Valley[Olympic Valley, Calif.] - The Village at Squaw Valley announces the return of the Art, Wine and Music Festival July 8 and 9, 2017.
El Dorado Winery Association to host Blind Barrel eventPLACERVILLE, CALIF. - In raucous, rebellious and Roaring Twenties style, El Dorado Winery Association will bring wine enthusiasts together to celebrate the repeal of Prohibition
Sierra College Patrons Celebrate a Successful YearRocklin, CA --The Sierra College Patrons, a support group of the Sierra College Foundation, celebrated the year just past and installed the officers who will guide the group during
Placer County Fair Kicks Off TodayRoseville, Ca - Temperatures in triple digits will not deter the Placer County Fair from opening the annual Fair June 22-25.
The Brothers Comatose Hit the RoadSan Francisco, CA -- Americana mavens The Brothers Comatose bring their raucous, foot-stompin' live show on the road to premier venues across
Rocklin student to compete for America's Top Young ScientistSilver Spring, Md. and St. Paul, Minn. - From alternative energy to sustainable agriculture to medical advancements, today's scientific young minds work hard to solve today's biggest challenges
Roseville Landscape Makeover Contest LaunchesRoseville Environmental Utilities launched Sustain the Gains, a landscape makeover contest designed to encourage continued efficient water use.
NEWS: In Case You Missed It