Planning on Getting Started as A Real Estate Investor but Don’t Know Where to Start? Click Here

So, you’ve been thinking about getting started in Real Estate investing but don’t know where to start.

The good news is that you’ve come to the right place.

In this article, we will provide you with several tips you can use to successfully get started as a Real Estate investor regardless if you plan on investing in San Diego, Las Vegas or Phoenix Real Estate.

Tips #1 – Start Small in The Beginning

Sadly, many investors get started in real estate investing by purchasing more than one rental property at once and they are not ready with the responsibilities which come with managing multiple rentals.

This is why you should start small at first because starting small and building your portfolio or rental properties over time will give you the ability to make small mistakes and learn from them rather than having to deal with multiple mistakes which can come with managing multiple rental properties.

Tip #2 – Choose Properties That Are in In Demand Locations

You’ve heard the old phrase “location, location, location” when it comes to buying Real Estate for your primary residence right? The same can be said about investing in rental properties.

Location is important because tenants know what they want and they will be more inclined to rent a property that meets criteria that they are looking for.

Some of the most common criteria that tenants are looking for in a rental property include:

  • Bedrooms/bathrooms – Most renters are looking for rental properties that have a minimum of 2 bedrooms and 2 bathrooms.
  • Square feet – Every renter wants to rent a property that offers them plenty of square feet so it’s important to find a viable rental property that offers renters plenty of space for them to enjoy.
  • Location – Although some tenants want to live close to downtown, others want to be near the beach of enjoy the quiet solitude of the suburbs. Regardless of where your rental is located, don’t forget to highlight every aspect of its location.
  • Amenities – It doesn’t matter if the property is a single-family home, condo or town home, it has to have great amenities that tenants will want.

Tip #3 – Hire A Property Management Company

Last of all, but most important, the most important thing that you want to do when getting started as a Real Estate investor is to hire a property management company.

At GoldenWest Management we make owning rental properties easy and will save you the time, money and hassle of having to manage your rental property yourself.

To learn more about the services we can offer you contact us today at (866) 545-5303 or click here to connect with us online.

Do Short Term Leases Help Or Hurt Landlords?

Short- and long-term leases both have different benefits and setbacks, before you begin any lease discussions with a prospective tenant you should research the pros and cons.

Although some landlords may be open to offering their tenants short-term leases, the reality is that most landlords don’t actually take the time to think about if that lease will potentially help or hurt them.

In this article, we will break down short-term leases and provide you with more information about if this popular lease term actually helps landlords or hurts them.

What Is a Short Term Lease?

A ѕhоrt-tеrm lеаѕе gеnеrаllу rеfеrѕ tо a lеаѕе wіth a duration of lеѕѕ thаn ѕіx mоnthѕ. Often, thеу are bаѕеd оn a mоnth-tо-mоnth rеntаl аgrееmеnts, whісh may оr mау not bе rеnеwеd аt the еnd of each mоnth.

Although mоnthlу аgrееmеntѕ аrе thе most соmmоn, thеу mау bе wееklу, оr еvеn lеѕѕ thаn оnе wееk in thе саѕе оf vacation rеntаlѕ.

Shоrt-tеrm lеаѕеѕ are mоrе соmmоn іn аrеаѕ wіth hіgh demand аnd lоw supply оf rental рrореrtу аѕ lаndlоrdѕ can аffоrd to be mоrе раrtісulаr аbоut who they сhооѕе as tеnаntѕ, аnd can rаіѕе the rent at thе еnd оf еасh ѕhоrt lеаѕе реrіоd.

Young couple moving in new place

Do Short Term Leases Hurt Owners?

Yes, it’s true that short-term leases do offer landlords some flexibility but the reality is that a short-term lease means that a landlord may have their property rented for 3-6 months at a time but it’s entirely possible that their rental property may not be rented for one month or more at a time because the success of these types of leases is all based on demand.

With a long-term lease, a landlord also benefits from the following:

  • Income stability
  • One consistent tenant for the next 12 months or longer
  • Most tenants who opt for long-term leases have higher standards for their rental properties than short-term
  • You can plan for the future with a long-term
  • Less turnover Maintenance Costs

Get Property Management Here

For property management in San Diego, Las Vegas or Arizona contact Goldenwest Management today by calling us at (866) 545-5303 or click here to connect with us online.