There are so many questions surrounding the ever changing arena referred to as “we own a rental” or investment property. There are also many resources available to answer these questions, which can sometimes lead to confusion and differences in opinion. In an upcoming series of blog posts – a list of several topics to be covered is below – I will try to address each question. I am an experienced REALTOR, Property Manager as well as an investment property owner, and I can help guide or advise you. This series will mainly focus on California – since that’s where I live and work. Yet being the owner of a rental in Sparks, Nevada, some comparisons may be drawn from time to time.
I’d love to hear from any readers who may be contemplating purchasing a rental or investment property – experienced as well as novices. Should you have suggestions and/or comments to share; Or if you have situations/topics you’d like addressed in this column (which I have overlooked) drop me a note and I’ll do the best I can to respond.
In a bi-weekly series starting this week, I will discuss:
- What makes a good rental?
- Where do you start the process?
- Do you have what it takes to be a landlord or do you need someone to do the work for you?
- How does the IRS look at your investment?
- Is today’s economic climate in your favor?
- Best time to buy?
- Where do you want your investment to be located?
- How do you afford one or many rentals?
- What’s the next step?