Have you been thinking about investing in SoCal Real Estate? If so, you’ve come to the right place!
In part one of this three-part series, we’re going to provide you with a general strategy that you can use for buying Real Estate in Southern California for investment purposes.
#1 – Think About Your Real Estate Goals
Before making your first Real Estate investment one thing that you should do is determine the purpose your investment will serve.
Are you going to buy Real Estate with the goal of never selling it (buy and hold)?
Or are you going to buy Real Estate to make repairs or improvements and quickly re-list that property (fix and flip)?
Regardless of your Real Estate goals, you should determine in advance what your plan is for the rental property just so you make the right investment for your situation.
#2 – Determine the Location
The location is important when making a Real Estate investment, especially when it comes to buying rental properties because where the property is located will determine how easy it will be for you to stay involved with managing your rental if that’s what you want.
If your goal isn’t to self-manage your rental property then you can live anywhere, and invest anywhere, because you can always hire a professional property management company to manage your rental property for you.
Although most new investors want to self-manage their rental properties the reality is that it’s often a better choice to hire a property management company from the start just so the investor can focus on growing their portfolio or rental properties and not get caught up in the day-to-day tasks of managing a rental property themselves.
#3 – How Are You Going to Pay for The Investment?
Last of all, but most important is the issue of financing.
Are you going to be paying for your Real Estate investment via financing (other people’s money) or will you be paying cash and using your own money to make the Real Estate investment?
Once you know the answers from the questions asked in this article you will be able to confidently move forward with making your first Real Estate investment.
Contact Fred Sed Realty
At Fred Sed Realty about a one-third of our buyer business in Southern California is for Real Estate investors who are buying rental properties.
What’s even better is that multiple team members in our company also own Real Estate as well so you can have confidence that you will be working with a team of Southern California Realtors® who know the Real Estate market based on our experience.
Contact us today by calling (800) 921-9231 or connect with us online through our website.