Traditionally, those that have purchased investment real estate in California have done very well with their Investments. While property values and rental rates continue to rise, there are now other ways to make money with your property. One great option to consider would be to use your investment property and rent it out on AirBNB.
California is one of the golden states that boasts of the most profitable and valuable real estate opportunities. It has a diversifying and ever growing rental economy with beneficial properties to offer. Below are some of the areas in California where you can find the best rental properties with an upward growth.
When you purchase and fix up a rental property, you expect a reasonable return on your investment. That means filling your rental units and finding renters who will pay their monthly rent regularly and on time. That can be a challenge, but you can simplify the process if you ask the right questions before they sign on the dotted line. Here are 6 questions you should ask renters before they move in:
When you fix and flip houses for a living, there's a point immediately after you finish repairs when you must decide what you want to do with the house. Are you going to turn around and sell it, or do you need to rent it for a while? By asking these questions, you'll discover whether you'll make more money from renting or selling the property.
When you purchase a house or other property to rent out, you're often reliant on the tenants to make sure that the bills get paid on time. Their rent may take care of the mortgage, provide money for repairs to the property, and help increase your available savings so that you have the money for other projects in your arsenal. Unfortunately, if your tenants don't pay their rent on time, that means you won't have the funds you need! Learning how to make sure tenants pay their rent on time is an important part of being a landlord.
Purchasing a fix and flip property is often a long-term investment. You'll have your capital tied up in the house for quite some time. Sometimes, when the work is done, you're faced with a problem: you've got the property fixed up, ready to sell, but it's sitting on the market without selling. In other cases, you might have watched the market shift in your area so that you can't make as much on the property as you initially thought. If you encounter a problem, is it worth renting your investment property short-term? Asking yourself a few key questions will help make this determination.