A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Best Places to Buy Investment Property
I
love looking at houses around the country and compare them to what we have here
in So Cal. I came across Forbes magazine’s list of best places to invest in
2014.http://onforb.es/1vs8f6b.
The fun part of this page is that as you scrawl through the
pics, it also gives you the map and vital info on each home.
Some of the Homes look beautiful, and
when you see the prices, it makes you foam at the mouth when compared to the
prices we see here. But is there a risk when you buy property in a state that
you don’t live in, and also just because the prices are much lower then we have
here, do you run the risk of buying in an area that may not bring in the rental
income you may be expecting.
I think those two questions have
pretty obvious answers. Any time you invest in an area that you are not
familiar with, you better have a very trustworthy professional, that you are
confident will explain all the vital information to you before you buy. To me
it makes more sense staying local where you understand the market, and you have
a feel for the area that your investment is in.
I know that can create a financial burden
here in Southern California for people who want to get into the rental property
business. Prices can be a huge deterrent and may keep people out of the market
all together.
When you are trying to decide whether or not to buy an investment
property, there are many factors that will come into play, and the biggest
factor is can you buy a property and make a profit. That is what makes out of
state purchases so compelling. The lower prices will also have a lower monthly
mortgage payment, so that will take some of the stress out of the decision, but
that will not guarantee a profit, it will only minimize a possible loss.
There
are some areas in So Cal that have a much lower entry price. You can go out to
Riverside for example and see if there are homes out there that you may want to
invest in. Again, if you are not familiar with the area, you need to get a
profession opinion for that area and see if the properties in that area will
bring in the income you desire.
Another
plan may be to find a partner that also wants buy investment property and you
will be able to split the cost and the Risk.
Always remember that no matter
where you buy, Schools should be given great consideration before you make a decision. In my business of Property Management in Anaheim Ca. I find,
It is always much easier to rent and you can get higher rents in a good school
district. You can check out local schools by zip code http://bit.ly/1DWroD3
A.D. Cantelmo Property Management Specializes in Property
Management in Orange County Ca.