The first thing I look for in an investment property is location, location, location! In an ever-expanding and changing city like Los Angeles, a property’s location can make the difference between a big return or a money pit. Renovations can always be made but location is permanent. Choosing an area that is in a development stage with confirmed plans for new businesses, increased funding for schools and effective marketing of the neighborhood is key. An area where the market rate is still lower than those surrounding it but has the promise of appreciation throughout the improvement process will ensure your smaller investment will provide a greater return than if you looked in an already established and most likely less updated area.
Location is the absolute key when looking at an investment property to buy. Whether you’re looking at a long-term lease rental or an Airbnb, location is paramount. Look for a highly desirable area that people would want as a vacation rental because of the proximity to lakes, beaches, rivers, mountains or even city nightlife for an Airbnb. For long term renters, a great family neighborhood should have top school districts, close-by community parks, pools, shopping, etc. A property’s potential to maximize your investment while being rented out is greater when purchased in the right location. You will be able to easily sell it down the road because these areas will always be desirable and always increase in value. Be sure to thoroughly read the HOA’s and CC&R’s (if there are any at the property you’re considering) to ensure that rentals are allowed and (especially in vacation towns) that it can be lived in for 365 days a year. Let me know if you need any help finding your next investment property!
A PROPERTY’S LOCATION CAN MAKE THE DIFFERENCE BETWEEN A BIG RETURN OR A MONEY PIT.
A PROPERTY’S POTENTIAL TO MAXIMIZE YOUR INVESTMENT WHILE BEING RENTED OUT IS GREATER WHEN PURCHASED IN THE RIGHT LOCATION.
Brittany Richards Keller Williams Realty Los Angeles, CA Connect with Brittany
Sunny Pate Furtado Topography Real Estate Vancouver, WA Connect with Sunny
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