Are you planning on buying a Central Valley investment property in 2019? If so, you’ve come to the right place!
Like many investors, you may be asking the timeless question: “how do I find a great investment property?”. Thankfully, the answer to this question is simple, that’s why we’ve provided you with a series of tips to follow that will help you with buying a great investment property.
Tip #1 – The Property Has To Be In A Great Location
The first step to finding a great investment property in the Central Valley is to make sure that it’s in a perfect location.
Ideally, your investment property should be in a good school district, near public transportation, close to shops, stores, restaurants, or fun things to do in the area. Most important of all, your investment property should be within 30 minutes to one hour of major employers in the area because you want your rental to be convenient for people to drive to and from their jobs.
Tip #2 – It Has To Have Good Resale Value
After you have found a potential investment property that meets the criteria of tip number one, the next thing that you should do is to verify that the Central Valley investment property has a good resale value.
This tip is important because you may want to sell the property within five years and purchase another investment property. Like every investor, once you list your property for sale you want to have confidence that it’s going to sell for top dollar and most important of all, that it’s not going to take forever to sell.
Tip #3 – Do The Numbers Make Sense?
Most important of all, before purchasing a new investment property in the Central Valley, you should take a hard look at the numbers to make sure they make sense.
To verify that investment property will make financial sense, make sure you ask yourself the following questions:
- How much am I going to buy the property for?
- What is the monthly rent going to be?
- Will the rent cover all of my expenses on a monthly basis?
- Is the rental property going to generate positive or negative cash flow for me?
If the rental property makes good financial sense, you can have full confidence in knowing that it’s the right investment property for you to add to your portfolio.
Contact RPM Central Valley
Learn more about what to look for in an investment property, or to speak with us about our Property Management Services, contact us today by calling 209-572-2222 or click here to connect with us online.