Today, I wanted to take a few minutes to talk to you about investing in property in California, specifically in Walnut Creek, Concord, Pleasant Hill and surrounding areas. While I am focused on these areas because it’s where I happen to be, please remember that you can use this advice anywhere. Whether you are buying investment property in Florida, New York, California or somewhere else, all these things apply. Most of what I say pertains to California, but you can stick with these guidelines no matter where you might buy.
The first thing you want to do is to look at the schools. There are rating systems out there for school districts, and it’s really important that you look at those before you buy a home that you plan to put on the rental market. Good properties are found where the schools are performing well. This is how you know the community cares about things like families and education. That means a lot to potential renters.
If you are buying in a neighborhood, make sure you talk to a local property manager before you even open escrow on a property. Yes, you will have a real estate agent helping you when you buy a home, but a property manager can answer specific questions you might have about rental value. A property manager can tell you how much rent you might expect to make on particular properties, and which upgrades and repairs to the property will help you get a higher rent. A property manager can also tell you which repairs and upgrades will be a waste of time and money. There is a lot of good advice to be found by consulting a professional property manager.
A nice benefit to working with someone like me is that I am a property manager, a real estate broker and a licensed general contractor. I also hold special licenses in painting, flooring and other areas. It will be invaluable to you as an investment property owner to have a one stop shop for all of your property management needs. You will make a better investment, and you’ll be better prepared for the rental market and what it holds.
If you have any questions about this, or if you are interested in looking for investment property in the Walnut Creek, Concord and Pleasant Hill areas, please contact us at Total Property Solutions.