Should You Invest in Rental Properties Now Before More Stock Market Losses?

If you’ve been following the latest stock market news on a daily basis it’s not hard to see that the stock market is in turmoil right now. Over the last two weeks, it’s not common to find out that the DOW is down by 600 points one day, then up by 400 points the next.

Sadly, the stock market correction that investors and analysts have been speculating about for the last 3 years has finally arrived and, the full-blown correction has not officially hit yet. Many people predict that the stock market could see a loss of close to 2500 points sometime within the next 30 days. That is is why it makes it more important than ever before for investors who want to avoid losing money in the stock market to consider investing in rental properties now.

Why Invest in Rental Properties?

The most important reason to consider investing in rental properties now is financial security.

When the stock market is going down, you can always count on your rental properties to continue producing you regular income on a monthly basis that you can depend upon.

Over the last 20 years, rental properties have been the most consistent investment around and everyone from Jim Cramer, to investors in the San Diego area, have been putting their money into rental properties to avoid the losses that they may have sustained following the .COM bubble burst of the late 90s, or the Great Recession.

What Types of Rentals Should You Invest In?

With more cities across the United States taking a stand against Airbnb and short-term rental properties as a whole, it makes more sense for investors in cities like San Diego, Phoenix, and Las Vegas to consider investing in long-term residential rental properties.

The obvious benefit of investing in a long-term rental property is that it will produce consistent cash flow for you on a regular basis and you won’t have to deal with the hassle which comes from owning and managing a short-term rental property like an Airbnb.

Depending upon your preference, you may be more inclined to invest in a single-family home versus a multi-family rental property, and that’s okay. There are more renters in Southern California, Phoenix, and Nevada than ever before and the good news is that there is also a wide mix of renters who prefer renting single-family homes, versus an apartment or a unit in a multi-family rental property.

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To learn more about real estate investments in San Diego, Phoenix and Las Vegas or to speak with us about our Property Management Services, contact us today at (866) 545-5303 or click here to connect with us online.

What Is Prop 10? Learn More About Rent Control in California

Are you a renter in California or a landlord? If so, regardless of your political preference, you definitely will want to vote next week because, every voter in the state has the ability to vote on either approving or stopping proposition 10 from becoming law.

What is Proposition 10?

Proposition 10 will give cities like San Diego and Los Angeles the ability to expand rent control. This will be done by repealing Costa Hawkins, the 1990s Housing Act that has been in California for over 20 years.

Thanks to Costa Hawkins, landlords in San Diego have the right to raise the rent on their units to the fair market value when an old tenant moves out. This could change though with proposition 10 which could make a landlord’s ability to raise the rent after tenant moves out a thing of the past.

Cities like San Diego could implement restrictions on all of the local housing stock including single family homes, condos, town homes and new apartments.

How Will Rent Control Affect California?

The obvious argument for rent control is that it will protect renters from excessive rent hikes and keep their homes affordable.

Although rent control sounds ideal for California, and many people feel that it will be a cure-all for the housing crisis, implementing rent control will not encourage the construction of more housing in the Golden State when this is what California desperately needs.

Many industry analysts and economist who have been following the developments of proposition 10 over the last year have seen landlords sell their rental properties in California in favor of getting out of the state before rent control becomes law. Other landlords have sold their portfolios of single-family homes to individual owners, effectively taking those rentals off the market.

Regardless if you stand for or against rent control in California, don’t forget to vote! Make sure your voice is heard in November by casting your vote when it comes to this crucial issue.

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For property management in the San Diego area contact Golden West Management today by calling us at (866) 545-5303 or click here to connect with us online.

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

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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.