When buying a rental property, you need to estimate it’s value so that you can know how much you should offer to the seller.We have gather some tips that will help you evaluate a rental property purchase before making a final decision.
Evaluate a rental property purchase – the complex process
1. EVALUATE A RENTAL PROPERTY
PURCHASE
- THE COMPLEX PROCESS -
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2. When buying a rental property, you need to estimate
it’s value so that you can know how much you
should offer to the seller.
Your skills in property evaluation will greatly
determine whether you will get some profit from the
purchase or end up in losses.
We have gather some tips that will
help you evaluate a rental property
purchase before making a final
decision.
www.goodmanmanagementteam.com
3. Evaluate the Property's Financials
How much can you put into this investment?
How much can you afford to lose?
If you need additional funds, where will you
get them from?
What will your monthly mortgage payment
and interest rate be?
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4. Evaluate What Repairs Are Necessary
A good real estate investor should be able to
estimate the cost of repairs in a rental property.
Evaluate whether the property requires
repairs and if it does, how much they
will cost you.
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5. Evaluate its Appreciation
It pays to speculate the appreciation rate of the
property you intend to buy. If you see depreciation
in future, you should rethink your decision to buy
that property.
A realtor will help you
in this evaluation as
they have experience in
real estate.
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6. Looking for a Good Realtor?
Goodman Management Team sets the standard
when it comes to rental property management in
California. Not only are they professional, maintain
optimal industry knowledge and are experts in
positioning your property best in the market, but
they have a “hands on” approach that sets them
apart from the rest.
As a qualified property management professional,
Gerry is ready to assist you with all of your
property management needs in Orange. Gerry’s
approach is customized for each client.
www.goodmanmanagementteam.com
7. Gerry Goodman Real Estate Services
3239 E Meadowridge Rd,
Orange, CA 92867
Cell : (714)588-3338
Fax : (714)282-2242
Email : gerry@gerrygoodman.com
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