Investing in real estate is attractive to many people. After all, it can be a great source of passive income, meaning you don’t have to do much to earn it once it’s coming in. After all, many people make a lot of money investing in real estate. So just how hard can it be to invest in rental properties?
Mountain-N-Plains Real Estate Services is the best Fort Collins property management company. We help those who own rental properties by managing their properties for them. This includes finding tenants, vetting tenants, and handling all of the tenants’ problems, such as maintenance issues. In this blog post, we’ll review information you need to know before diving into the rental property investment arena. Contact us today to learn more!
WHAT YOU NEED TO KNOW BEFORE DIVING INTO THE REAL ESTATE RENTAL INVESTMENT MARKET
Do Your Due Diligence
When investing in the real estate market, you don’t just buy the first home that you find that you believe is a good price. You’ll need to do your research to determine if a particular property meets the necessary criteria to be profitable. For instance, is the Fort Collins rental property located in a place where families want to live or businesses want to locate to? Location is key when choosing an investment property because you never want your property to be vacant or you lose money. If you’re looking into a single family home, what is the school district? What are the nearby amenities? If you are considering a commercial property, is it located near a busy street? What amenities does it offer? There’s a lot to consider before your buy a Fort Collins rental property.
Weigh Income versus Expenses
If you are buying rental property as an investment, you want to make sure that you will make money off the deal and preferably that you will create an income stream. Thus, you must consider the long term value of the property when purchasing a Fort Collins rental property. You’ll want to consider what you expect to receive as rent from the property, what your expected mortgage will be, and you’ll want to consider if there are any improvements you’ll have to make to the property before you can rent it out. For instance, does the roof need replacing? How about the hot water heater? Is there a dead tree in the yard that needs to be removed?
You’ll also want to consider what the expected expenses will be on an on-going basis. This would include allowing for unexpected maintenance issues, such as plumbing problems that crop up, a floorboard that may need to be unexpectedly replace, or a new driveway. Having your potential Fort Collins rental property inspected before you purchase the property could prevent you from buying into a dive.
HOW MOUNTAIN-N-PLAINS REAL ESTATE SERVICES HELPS WITH FORT COLLINS RENTALS
After you purchase your Fort Collins rental property, give Mountain-N-Plains Real Estate Services a call. We’ll be more than happy to help you manage your rental properties anywhere in the Front Range. We are proud to hold CPM® (Certified Property Manager), AMO® (Accredited Management Organization), and many Fort Collins realtor designations. With 40 years of experience helping families and businesses find homes and rental properties to invest in, we are your go-to Fort Collins property management company. We currently manage apartments, townhomes, condos, single-family homes, and commercial real estate of various types, such as medical, retail, office, industrial facilities, and commercial associations. We care about this community and do our best to help you grow your real estate investment portfolios through finding Fort Collins rentals to buy. Contact us today to get started!