If you’re interested in buying investment property in Southern California, Yorba Linda is an ideal location, whether you’re looking for a rental or a “fix-and-flip.”
Many of the surrounding communities of Orange County also make for desirable locations.
The right house (or houses) for your investment will depend on your goals, your budget and your appetite for risk. Letting an experienced Realtor® assist you in your search won’t cost you any money, but it will help ensure you don’t get stuck with a money pit.
Buying Investment Property to Rent
Rental properties are a great investment right now in Southern California. The high value of real estate means that many individuals and families are forced to rent based on economics. In addition, many members of the millennial generation have made the conscious choice not to buy a home.
If you would like to purchase a house to use as a rental property, talk to your Realtor® about what potential renters are looking for in a house and purchase accordingly. If you want to command the highest possible rent, either purchase an outdated or worn home and update it, or choose one that has already been updated recently.
Buying Investment Property to Flip
Investors are making good money on fix-and-flip properties today, but you have to choose carefully, or you could wind up breaking even or worse — losing money.
If you don’t have experience in this endeavor, your Realtor® can help you choose a property that requires the type of updates that you can handle. You will also have to budget carefully and move quickly with the work, or it could cost you a chunk of your anticipated profit.
Talk to your agent about what types of finishes and upgrades buyers are looking for in your area, to make sure you appeal to the largest possible buyer base.
Why Having a Realtor® Makes Sense
Some investment property buyers believe using a Realtor® will eat into their profits. But when you’re buying real estate, the seller pays the commission to your agent, so it won’t cost you a penny to have a professional Realtor® on your side.
Your agent can also help you make the best choices in location, size and amenities. Unless you know exactly what today’s buyers want, you could end up with a property that no one wants to rent or purchase. Having an agent will also save you valuable time by showing you only those listings that meet all your criteria.
Finally, working with a licensed Realtor® is the best way to ensure your protection through this complex legal transaction. And with an insider’s knowledge of the market and a network of resources, your agent can make the experience as easy and painless as possible.
In Yorba Linda and throughout Orange County, the Edie Israel Team provides expert representation for real estate buyers and sellers. Contact us today to learn more about how we can assist you when you’re looking to purchase an investment property.