How Can I Get Started Investing in Real Estate in California?
Are you interested in investing in real estate? Real estate is a great way to invest! Not only does the value of property generally appreciate, but you can also receive monthly rent checks. Investing in real estate takes hard work, however, especially in the beginning. It can scare some away before they see any benefits. But, if you work hard and get things established, real estate investments can become a passive form of income. Let your property make money for you! So, how can you get started investing in real estate in California? Let us share a few ways to get started.
When you are first starting out with investing in real estate, you need to assume the role of a student. Soak up all the information you can, educating yourself on real estate and investment strategies, tips, common downfalls, requirements, and so on. Read books, watch YouTube® videos, and talk with others who are investing in real estate successfully if you can. Learning all you can know will be a huge benefit for you later on.
Check Your Financials
First, you need to consider the financial requirements of investing. Do you have adequate income and savings to qualify for a second mortgage? Often for second mortgages, lenders will require more stringent financial stipulations such as a higher monthly income, a lower debt to income ratio and a higher down payment percentage. Additionally, when you own and manage investment properties, you will need money for maintenance, repairs, or times when there is no renter. You also want to make sure your finances are well organized and well managed.
Scrap the Emotions
Real estate investing is no time to let your emotions make decisions. Instead, keep in mind that real estate investing is a business with you as CEO and President. Make decisions based on facts and logic, not sentiment, emotions, or the “I want to” attitude. Wise decisions will save you money and heartbreak when investing.
Choose a Great Housing Market
For a profitable investment in real estate, you need a housing market that is primed for success. At Team French we believe the Gold Country of California is a great place to invest. The Gold Country has affordable housing prices and plenty of need for rental properties and vacation home rentals. Additionally, the area has lots of interest and is forecast to grow, while people from the Bay Area and beyond look to escape the more populated areas, making your property a worthy long-term investment.
Partner with Local Real Estate Professionals
As you start out on your journey with investing, it’s a good idea to with a trusted real estate professional who is immersed in the area and with local professionals. These are people who you can turn to in the process for experienced help and recommendations. These professionals may be lenders, other investors, inspectors, contractors, and real estate agents.
At Team French, we would love to partner with you as you begin investing in real estate. We have years of experience helping people in the Gold Country find the perfect property to meet their needs, including investors. We can also help you connect with other trusted professionals as you need.
If you’re ready to start investing in real estate in California, Team French can help! Reach out to learn more about investing. Let’s get started finding the perfect property. Contact us today!