A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Should you buy rental property out of your area?
My Property Management business is in Orange County California and for investors
who own property here, it is a great investment. Anyone who is from the East
Coast and has been putting up with the harsh winters the last couple of years,
looks at Southern California and see’s the beautiful weather we have. Why would they not want to live here, so property is always at a premium?
The problem is that if you are looking to buy Investment Property in
Southern California, it is very expensive and much of the time, it dissuades people
from buying.
The other thing people do, is buy Investment Property in other
States where properly is much more affordable. The question many people have, is
buying Rental Property out of your area a good thing?
This question does not have an easy answer.
The first thing I would
say, is that if you are a first time investor, my answer to that question would
be no. It is not a good Idea to buy Rental Property out of your area if you are
not an experienced investor. Too many things can happen and if you are
inexperienced, you may not know how to react. This could cost you a great
deal of money and drive you to get out of the Rental Property business.
In my business of Property Management in Anaheim Ca. I tell people that
If you are an experienced Investor and you are looking to branch out to other
area’s of the Country, this could be a positive way to go. As an experienced
Rental Property Owner, you know the pitfalls that could happen when it comes
to Rental Property and you will be able to handle the problems without over
reacting.
The most important thing is to hire a good Property Management Company
and have confidence that they will handle your property the way you want them
to. If you don’t have confidence in your Management Company then you need to
find one that you trust.
If you decide to have an investment Property in an
area outside of your state, you will not be able to be a hands on Property Owner
so you will need to completely turn over your property to others and be
comfortable with that. If you are a control person, don’t buy Property outside
of your state.
The best place to by Rental Property is in the area that you live, but
If you are willing to take a risk and the price is right, go for it.
A.D. Cantelmo Property Management
Specializes in Property Management in Orange County Ca.