FAQ: Want to buy a rental fixer upper, what you should know.

By
Real Estate Broker/Owner CA#01772851 HI#RB21268

 

During the past couple of months, I have received numerous calls from "investors" wanting to buy fixer uppers that they then want to keep as rental income properties.

These are usually older properties that are duplexes, triplexes, four-plexes and even larger. These are not your normal residential properties, obviously.

Here is what you should ask yourself before taking on these rental gold mines:

1. Do you have the cash to purchase the property.

Usually sold at a very low price, these properties are not "loanable" so unless you have the cash or are able to get a hard money loan for at least a short period of time from another investor, this is not for you.

2. Do you have a contractor you can trust to give a realistic overview what needs to be done to make it habitable.

3. Have a roofer check out the life of the roof. This is one area that can eat up a whole lot of money for repairs.

4. Do you know where to get reliable renters.

5. Are you willing to make repairs yourself; if you have to hire out getting things done, it will eat into your profit.

Often investors of these properties "burn out" after a few years, and want to divest themselves of them. This seems to be happening right now. Several of my clients are selling, and a new crop of buyers are looking for them.

So if you are looking to invest in rental properties, please give me a call.

 

 

Posted by

Hella Rothwell at Carmel Beach during Concours WeekCarmel-by-the-Sea Beach and Pebble Beach Golf Course California

Whether buying or selling oceanfront, oceanview, commercial or any type of real estate in Carmel, Pebble Beach, Pacific Grove, Monterey, Carmel Valley and Big Sur, I can help you. Call me and let's meet in my Carmel-by-the-Sea office in Su Vecino Court on Dolores between 5th & 6th.

Or we can just chat on the phone to discuss your real estate needs.

Are you out of the area? No problem, I often never even meet my clients. The whole transaction is handled long distance.

As an independent real estate broker licensed in California and Hawaii, I can represent you with residential real estate, commercial properties & investment opportunities.

For more information

www.HellaRothwell.com & www.RothwellRealty.com

& www.HellaHawaii.com

Member: National Association of REALTORS, California Association of REALTORS, Hawaii Association of REALTORS, Del Norte Association of REALTORS, Honolulu Board of REALTORS. Also MLS Listings in California.

 ________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 831-626-4000 

Fax 1-877-822-9332

ROTHWELL REALTY INC.: Su Vecino Court, Lincoln & Dolores between 5th & 6th, Carmel-by-the-Sea, CA 93921

 

MAILING: P.O. Box 4554, Carmel-by-the-Sea, CA 93921

 
Email: HellaRothwell@gmail.com


Hella Rothwell's Facebook Page       Hella Rothwell's YouTube videos      REALTOR LOGO      Equal Housing Logo

 

Disclaimer: Hella Rothwell does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Groups:
Northern California Real Estate Professionals
CALIFORNIA REAL ESTATE
ActiveRain Contests

Spam prevention
Show All Comments
Rainmaker
2,763,878
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Good ideas and good advice never fail. This one might be a good idea for a repost. Love and light!

Jun 14, 2017 09:57 PM #1
Rainmaker
1,438,015
Kat Palmiotti
406-270-3667 (MT), 914-419-0270 (NY), Broker in NY with Grand Lux Realty and in MT with (coming soon!) - Kalispell, MT
The House Kat

Purchasing rental properties is deinitely an entirely different process than purchasing a personal residence. It's all about the bottom line, both in terms of maintenance/repairs and in terms of rental rates/vacancies. I like the objectiveness of it all.

Jun 15, 2017 03:31 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
521,324

Hella M. Rothwell, Broker/Realtor®

Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea
How can I help you with Carmel, California real estate?
*
*
*
*
Spam prevention