EVALUATE A RENTAL PROPERTY
PURCHASE - THE COMPLEX PROCESS -
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When buying a rental property, you need to estimate it’s value so that you can know how much you should offer to the seller. Your skills in property evaluation will greatly determine whether you will get some profit from the purchase or end up in losses. We have gather some tips that will help you evaluate a rental property purchase before making a final decision.
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Evaluate the Property's Financials How much can you put into this investment? How much can you afford to lose? If you need additional funds, where will you get them from? What will your monthly mortgage payment and interest rate be?
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Evaluate What Repairs Are Necessary
A good real estate investor should be able to estimate the cost of repairs in a rental property. Evaluate whether the property requires repairs and if it does, how much they will cost you.
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Evaluate its Appreciation It pays to speculate the appreciation rate of the property you intend to buy. If you see depreciation in future, you should rethink your decision to buy that property. A realtor will help you in this evaluation as they have experience in real estate.
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Looking for a Good Realtor? Goodman Management Team sets the standard when it comes to rental property management in California. Not only are they professional, maintain optimal industry knowledge and are experts in positioning your property best in the market, but they have a “hands on� approach that sets them apart from the rest. As a qualified property management professional, Gerry is ready to assist you with all of your property management needs in Orange. Gerry’s approach is customized for each client. www.goodmanmanagementteam.com
CONTACT Gerry Goodman Real Estate Services 3239 E Meadowridge Rd, Orange, CA 92867
Cell : (714)588-3338 Fax : (714)282-2242 Email : gerry@gerrygoodman.com
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