With the Sothern California housing market expected to continue its upward trajectory, the timing is perfect make a move on new investment opportunities.
If your investment idea revolves purchasing a home and turning it into a rental property for a reliable income stream, there is more to it than just making a few home improvements and closing the deal. That is what we discuss in this issue.
First-Time Landlords
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Your Rental Property is a Business.
While it may not be your primary job, the success of your rental business is dependent upon you remaining professional about it. This includes complying with all necessary laws and requirements mandated by federal, state, and local officials to avoid any legal problems.
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Keep the Building/Property in Good Condition.
In addition to purchasing liability condition to cover emergency situations like pipe bursts, you should also invest to make sure all aspects of the home/property (wiring, etc.) meet required codes.
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Screen Your Tenants.
This is definitely a big deal as renters will be the ones who ultimately provide the return on your investment. Be sure to require a background and credit check, and pay attention to prior evictions, outstanding debts, and employer information.
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Rental Agreement Must be Put in Writing.
You (the landlord) and the renter need to have all expectations spelled out and agreed to legally so that you can take appropriate action if need be.
For Answers to all of Your Hard Money Loan Questions, call PB Financial Group today
From getting the funds you need quicker, to having a team of experienced investors on your side, there are a number of reasons to take advantage of the opportunities of a highly qualified and reputable hard money lender in San Diego.
Here at the PB Financial Group, we offer protection for your investment and thoroughly investigate real estate investment opportunities.
For further information or to schedule an appointment please contact PB Financial Group at 877.700.3703 or complete our online form.
PB Financial NMLS #357614/CalBre #01522495
