Long Distance Real Estate Investing – How To Invest The Smart Way

Are you planning on investing in rental properties in the San Diego, Las Vegas or Phoenix but don’t know how to get started?

In this article, we will give you several tips you can use for successfully getting started in long distance real estate investing

Be clear about your goal

This is mission critical for anything you do in life, especially with real estate investing.

You have to know why you’re investing in real estate, what your long-term goals are and you can get these answers by asking yourself the following questions.

Is your goal to have passive monthly income?

Do you want to gain appreciation?

Are you interested in having your money somewhere besides the stock market?

You have to know and understand yourself

Once you know your “why” for getting started in real estate investing you should next take an honest assessment of your own personal style.

Are you a control freak? Are your hands off or a hands-on type of person?

These questions are also important to ask because, if you are a hands-on type of person you may not be successful with long-term real estate investing unless you hire a professional property management company like Golden West Management to manage your rental property for you.

Hiring a property manager will give you confidence in knowing that even though you may be living out-of-state, your property is being managed by someone who cares about your best interests and will make sure that your rental generates ROI every month.

Get local by going local.

Let’s say that you live in Portland but you want to invest in San Diego real estate, or you live in Phoenix but you want to invest in properties in Las Vegas.

Another great way to meet success as an out-of-state investor is to hire someone, like GWM, who is locally based that assist you with investment sourcing, brokerage for acquisitions, and of course full-service property management.

We Help Out of State Investors!

Don’t manage your rental property yourself, let us save you the time, money and hassle of managing that property! Contact GoldenWest Management by calling us at (866) 545-5303 or click here to connect with us online.

How to Protect Yourself When Buying Investment Properties

Are you planning on buying investment properties in San Diego, Phoenix or Las Vegas? If so, you’ve come to the right place!

There’s no doubt that investment properties make an excellent addition to any portfolio but, the key to success with purchasing these types of Investments is following the right procedure to protect your best interest as an investor.

In this article, we will list for you several steps that you can take to protect yourself when buying investment properties.

Choose the right location.

The golden rule as home buyer or real estate investor is always to focus on location, location, location because, an investment property can be priced affordably but, if it’s in an area that’s not near shops, stores, restaurants or amenities that people will want to use on a regular basis, you may find that the property will be harder to rent then what you initially imagined.

Thanks to the internet, investors have the best tool at their disposal for investigating an area before they choose to the invest there. When examining an area online, you should individually research, blogs or other websites that are maintained by people who live or work in the area because this will give you a proper perspective of what you can expect when living there.

Get title insurance

Another important thing that you want to do to protect your best interests before purchasing an investment property is to get title insurance.

Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and the invalidity or unenforceability of mortgage loans. … Typically, the real property interests guaranteed are fee simple ownership or a mortgage.  – Wikipedia

The property must be inspected.

Besides choosing the right location, and getting title insurance, another essential thing that you should do when purchasing an investment property is to have that property inspected.

This step is essential regardless if the investment property is a new-build or was recently renovated because it’s the only real way that you can protect yourself as an investor with first-hand knowledge about what’s really going on with the property rather than being shocked by the repairs or renovations that it may still need after you purchase it.

Get Property Management

Last of all, but most important, the final thing that you can do to protect your best interest as an investor is to hire professional property management like Golden West Management, to manage your investment property for you.

A property manager will save you the time, money and hassle of managing your investment property yourself so you can focus on growing your portfolio of investment properties or just enjoying your normal life.

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

Reasons Why Hiring A Property Management Company Is the Key to Saving Time and Money In 2019

2019 is immediately around the corner, and if you’re like most investors, you plausibly are working on your goals for the new year and among those goals is the methods that you’re going to use to save time and money in the new year.

How Can A Property Manager Save You Time?

It doesn’t matter if you’ve been managing your rental properties yourself for years or not, self-managing those rentals can be very time consuming and also the reason why you didn’t grow your portfolio of rental properties this year.

Hiring a property manager can save you time in many areas especially when it comes to:

  • Customer service – You can count on your property manager to answer all calls and emails from tenants for you. This will free up more time during your day so you can focus on growing your portfolio of rentals or spending that time with your family.
  • Maintenance – Imagine no longer having to drive out to your locations to pull a toilet, meet a contractor or work on small projects yourself. When you hire a property manager, you can count on them to handle all aspects of maintenance for you.
  • Rent collection – There’s no doubt that rent collection can take up much time! Thankfully, when you hire a property management company, you can leave rent collection to the pro’s and have confidence that the rent will be collected on time each month and deposited into your account or mailed to you in the form of a check.

How Can A Property Manager Save You Money?

Every landlord or investor wants to save money because every dollar counts and can lead to you having a more profitable month or more expenses than money at the end of the month.

Here are several ways that a property manager will save you money:

  • Comparable analysis – Your property manager will do a comparative study of other properties for rent in your area so you will be able to rent your single-family home, condo or town home for what it’s worth on the rental market.
  • Higher quality tenants – Hiring a professional property manager will also ensure that you have tenants living in your rental property who will respect your rental, pay their rent on time on a monthly basis and possibly renew their leases each year without fail.
  • Fewer legal problems – Last of all, another great way a property manager will save you money is the fact that when you have a professional property manager managing your rental property you will have fewer legal problems because you can rest assured that the laws are being followed and policies are in place which will ensure that you don’t have any Fair Housing Violations.

Contact GoldenWest Management

Ready to speak with a property manager about managing your rental property? Contact GoldenWest Management by calling us at (866) 545-5303 or click here to connect with us online.

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.

Learn More Here

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.

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.

Tips For Writing A Clickable Rental Listing

One of the most important things that you’re going to do as an owner is marketing your property and a fundamental aspect is writing a rental listing write up to post online.

Sadly, many owners make mistakes that result in their listings receiving fewer clicks than they should that’s why in this article we will share with you our best tips for creating a clickable rental listing.

#1: Uѕе Dеѕсrірtіvе Hеаdlіnеѕ

Whеn people аrе looking for араrtmеntѕ оn Craigslist, they don’t сlісk оn every lіѕtіng—thеу ѕсаn thе hеаdlіnеѕ for keywords thаt іndісаtе thаt a lіѕtіng fits thеіr criteria. This mеаnѕ thаt unlеѕѕ your hеаdlіnе іѕ dеѕсrірtіvе, арреаlіng, аnd ассurаtе, very few реорlе will сlісk on іt.

Fоr instance, іnѕtеаd оf оffеrіng a “Grеаt араrtmеnt in оnе оf San Diego’s bеѕt suburbs,” соnѕіdеr a hеаdlіnе that ѕауѕ, “Fаmіlу-frіеndlу 3BR арt in Downtown, ѕtерѕ frоm Petco Park.” As уоu саn see, thе fоrmеr dоеѕn’t tell a рrоѕресtіvе rеntеr muсh about the асtuаl араrtmеnt, whereas thе latter gives thе exact ѕіzе, lосаtіоn, аnd hіntѕ аt the fact thаt thе property may bе in an ideal school district.

If you аrеn’t ѕurе whісh hеаdlіnеѕ will реrfоrm wеll, consider doing аn A/B tеѕt: Use two dіffеrеnt headlines tо аdvеrtіѕе thе same unіt, аnd then еvаluаtе whісh produces bеttеr results (bаѕеd оn іnԛuіrіеѕ, quality оf lеаdѕ, еtс.).

#2: Avоіd Sраmmу Fоrmаttіng

Some hеаdlіnеѕ use ALL CAPS AND TONS OF EXCLAMATION POINTS!!!!!! Whеn you dо thіѕ, you’re еѕѕеntіаllу yelling at рrоѕресtіvе renters to try to get thеіr аttеntіоn, аnd іt makes your ads lооk lіkе spam. Inѕtеаd, catch rеntеrѕ’ еуе with соmреllіng hеаdlіnеѕ thаt wіll еntісе them tо сlісk аnd rеаd thе rеѕt of уоur listing.

#3: Wrіtе Dеtаіlеd Copy

Put уоurѕеlf іn renters’ shoes. If уоu’rе looking fоr аn араrtmеnt оn online, whаt tуре оf іnfоrmаtіоn wоuld уоu wаnt tо knоw? At a mіnіmum, we ѕuggеѕt including:

  • An оvеrvіеw оf thе property’s condition: Iѕ it оldеr? Mоdеrn? Newly renovated?
  • A dеѕсrірtіоn of thе property’s lауоut: Is іt an open flооr рlаn? Hоw lаrgе аrе the rооmѕ? Does it have a room on the first floor?
  • Whаt’ѕ included іn thе ѕtаtеd rent? Hеаt? Hot wаtеr? Electricity? Pаrkіng?
  • Dоеѕ thе рrореrtу offer any аmеnіtіеѕ? A lаundrу rооm? A gуm? Outdооr space?
  • Describe thе gеnеrаl lеаѕе tеrmѕ, ѕuсh as month-to-month vs. a уеаr-lоng lease

Whаt will be rеԛuіrеd tо ѕесurе thе apartment? First mоnth’ѕ rеnt? Last mоnth’ѕ rеnt? A ѕесurіtу deposit? Dо you rеԛuіrе a bасkgrоund check? Emрlоуmеnt сhесk? Lаndlоrd references? Verification of income?

Whеn wіll thе рrореrtу bесоmе available fоr rent?

Whеrе іѕ thе property lосаtеd? Iѕ іt convenient to рublіс transportation оr major roadways?

Iѕ thе рrореrtу реt-frіеndlу?

Thіѕ іnfоrmаtіоn will hеlр уоu to wееd оut аnуоnе whо, bаѕеd оn these сrіtеrіа, wоuld nоt bе іntеrеѕtеd іn rеntіng thе unіt. Surе, this may result іn fеwеr lеаdѕ—but the lеаdѕ thе ad does gеnеrаtе wіll be mоrе qualified. In аddіtіоn, уоu’ll сut dоwn оn unnесеѕѕаrу еmаіlѕ аnd рhоnе саllѕ by answering thе questions thаt a vast majority оf applicants will have.

#4: Gеt Crеаtіvе wіth Multіmеdіа

Lеt’ѕ ѕау thаt уоu’vе рut tоgеthеr the mоѕt dеѕсrірtіvе ad оf аll tіmе. Pеорlе will STILL wаnt tо knоw whаt іt lооkѕ like. So, уоu саn еіthеr line up a ѕhоwіng for each рrоѕресtіvе tenant; or уоu соuld include ѕоmе form of multimedia іn уоur ad (рісturеѕ, vіdео, еtс.) Aftеr all, a рісturе is ѕuрроѕеdlу worth a thousand wоrdѕ!

Get Property Management Here

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

5 Tips For Becoming A Successful Landlord

Are you thinking about buying a rental property and becoming a landlord? If so, you’re making a smart choice.

Now is a great time to buy rental properties in the United States because mortgage interest rates are still historically low while demand for rental properties is high.

In this article, we will share with you 5 tips for becoming a successful landlord.

Treat Yоur Rental Property Like a Business

Sadly, mаnу lаndlоrdѕ dо a poor jоb аt managing their rental properties. Thіѕ іѕ in large part because they dоn’t see thеіr property аѕ a buѕіnеѕѕ. In оthеr wоrdѕ, they trеаt their investment like a hobby.

Whеn уоu, trеаt уоur landlording wіth thе rеѕресt, systems, аnd оrgаnіzаtіоn thаt you wоuld deal with аnу оthеr commercial vеnturе, wonderful things саn and will occur.

Screen Out the “Bаd Apples” Or Unqualified Tenants

Whеn ѕсrееnіng tenants you should require:

  • Thеу muѕt mаkе 2.5x thе mоnthlу rеnt іn ѕtаblе profits
  • Nо rесеnt еvісtіоnѕ
  • No rесеnt fеlоnіеѕ
  • Gооd preceding landlord references

Be careful nоt to ѕсrееn out tenants based оn any оf thе blanketed сlаѕѕеѕ, оr уоu соuld fіnd уоurѕеlf іn a lawsuit.

Trеаt Your Tеnаntѕ With The Respect That They Deserve

Although it may be difficult, you absolutely have to treat your tenants with the respect that they deserve because if a tenant feels like you value their business and treat them with respect they will want to renew their lease.

You Can’t Be Too Nice

Yоur jоb аѕ a lаndlоrd is tо be fаіr.

Bеіng “nісе” wіll gіvе your tеnаntѕ and оthеrѕ thе invitation tо stroll аll оvеr уоu аnd tаkе аdvаntаgе аt еvеrу flip.

Bу аllоwіng your tеnаnt to interrupt thе rulеѕ, уоu ореn уоurѕеlf up tо years of battle and compromise thаt will ultіmаtеlу lеаd tо large financial losses.

Thеrе іѕ a distinction bеtwееn rеѕресtful and being nісе. Choose wіѕеlу.

Gеt Hеlр When You Need It

Wіth оvеr 28 Million actual еѕtаtе іnvеѕtоrѕ іn Amеrіса, (Source: BіggеrPосkеtѕ.соm) there аrе bоund tо be countless іnvеѕtоrѕ іn уоur tоwn who саn hеlр уоu оut all through hard times.

Whеthеr іt’ѕ thе smartphone numbеr for a plumber, hеlр dealing wіth a tоugh еvісtіоn, оr juѕt rеаѕѕurаnсе which you аrе dоіng thе rіght (or wrоng) factor, rеасh out to оthеr lаndlоrdѕ fоr hеlр. Landlords love tо “communicate ѕhор” ѕо lооk for opportunities tо open thе verbal exchange.

Get Property Management Here

Once you buy your first rental property, make the smart decision to hire a professional property management company instead of managing your rental property yourself.

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

Carbon Monoxide Detectors – Should You Install Them in Your Rental Properties? Yes!

By GoldenWest Management

Do you have smoke detectors installed in your rental properties but not carbon monoxide detectors?

Carbon monoxide detectors should be essential in every rental property because they save lives.

Unlike smoke, Carbon monoxide is a gas that doesn’t have any odor or color and it can be lethal to animals or humans who have been left in a home or environment that has a carbon monoxide leak.

What Does Carbon Monoxide Come From?

Carbon Monoxide can be found in combustion fumes, including those made by cars and trucks, lanterns, stoves, gas ranges or other heating systems. Source – cdc.gov

It’s very common for carbon monoxide to build up in places that don’t have good air circulation or fresh air.

What Are the Symptoms of Carbon Monoxide Poisoning?

If you suspect that someone might be suffering from carbon monoxide poisoning, some of the most common symptoms include: Dizziness, Weakness. Nausea, vomiting and chest pain.

(Source – Medlineplus.gov)

This poisonous gas sends roughly 15,000 people to the emergency room each year and sadly close to 500 people die on an annual basis from carbon monoxide poisoning. (Source – safewise.com)

How Do Carbon Monoxide Detectors Work?

Carbon Monoxide detectors have three separate sensors: Biomimetic, Metal Oxide Semiconductor and an Electrochemical Sensor that detect the presence of this poisonous gas in the air so that people have time to get out of the home until help arrives.

The only way a carbon monoxide detector can reset itself is if there’s no presence of this deadly gas in the air so the problem does have to be eliminated before humans or animals can return.

How Much Do Carbon Monoxide Detectors Cost?

Thankfully, carbon monoxide detectors cost between $50-$100 each so they are an affordable life-saving solution that every rental property should have.

Get Property Management Here

For professional property management contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

Renter Tips – 4 Things Renters Can Do to Beautify Their Homes

By GoldenWest Management

Are you renting a property and want to learn more about what you can do to beautify it or make your rental a more pleasant place while you live there? You’re not alone.

In this article, we will share with you 4 easy things you can do to beautify your rental property.

orange house paint

Tip #1 – Paint

Depending on your rental, (and the rules of your property management company) you may be allowed to paint the inside of your rental while you live there but remember when you move out, the walls need to be the same color that they were when you first started renting.

Before getting ready to paint just make sure you choose the right colors for the space. You should also get written approval from the owner or property management company before you start painting.

For example, bright colors will open up any space while darker colors will make a room feel smaller.

If you don’t want to paint an entire room you should consider painting just one wall a bright color then adding accessories like colorful pillows or furniture that will add pops of color to the room.

You can also breathe new life to the whitewashed walls of a rental property with wall stickers or by painting an accent wall. The materials that you need can be purchased at any Dollar Store or a Walmart and are especially perfect for children’s bedrooms.

Living room interior with gray velvet sofa, pillows, green plaid, lamp and fiddle leaf tree in wicker basket on white wall background. 3D rendering.

Tip #2 – Choose Furniture That’s Versatile

Instead of choosing pieces of furniture that will just fit your current rental property you should pick furniture that’s versatile and can be used in other properties that you may move to in the near future.

For example Modular sofas, folding chairs, side tables and coffee tables. You should also add an ottoman or two as well because they are excellent for storage.

Recessed ceiling lights in a coffee shop
Recessed ceiling lights in a coffee shop

Tip #3 – Don’t Forget the Lighting!

Like most rental properties, you may find that the rooms in your rental only have one small light in each room or no lighting at all.

Thankfully, lighting is one of the easiest decorating improvements that you can make and also one of the most affordable.

When choosing lighting for your rental make sure that you choose at least one or two floor lamps for each room and one small lamp that can be placed on an end table.

Bathroom in the bedroom with wardrobe

Tip #4 – Accessorize Every Room

Besides painting, choosing versatile furniture and great lighting for your rental property you should also accessorize each room with window coverings, rugs and artwork because choosing the right accessories will really help to add your “stamp” on the rental and make it your own.

Immobilien online suchen

Search for Rentals Here

Are you planning on searching for a new rental property? We can help! Contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

What’s Happening with The San Diego Rental Market?

By GoldenWest Management

Are you interested in investing in the San Diego Rental Market? If so, you’ve come to the right place!

In this article, we will offer you up to date information regarding what’s happening in the SD Rental Market including accurate data and what we can expect for the rest of the year.

Average Rent

As of March 2018, the average rent for the San Diego rental market is $2,028, this is an increase of 3% compared to the same time last year when the average rent was just $1,963. (Source – Rentcafe.com)

San Diego, California

Rent Breakdown

Anyone who is searching for a rental property in the San Diego area can expect to pay the following rents:

  • Studio Apartment (455 Sq. Ft) – Average: $1,479 per month
  • One-bedroom apartment (671 Sq. Ft) – Average: $1,793 per month
  • Two-bedroom apartment (966 Sq. Ft) – Average: $2,190 per month
  • Three-bedroom apartment (1,294 Sq. Ft) – Average: $2,773 per month

Rent Increases Have Slowed – Slightly

There’s no doubt that rents in the San Diego area have been increasing steadily over the years but since the start of 2018, they have slowed, slightly.

This slowing could be due to more rentals coming to the market like the opening of the new “The Rey” apartment complex in San Diego. This complex has brought close to 500 new rentals to the market.

Located at 801 A Street in San Diego, The Rey apartments with high end designs, luxurious floor plans and lots of amenities. Learn more about this apartment complex by visiting their website at https://www.berkshirecommunities.com.

Slowing rent increases could also relate to the winter months. Either way, industry analysts don’t expect the rent growth slowdown to last for long as San Diego continues to rank among the top cities in the United States for rent growth.

San Diego, California

Most Expensive to Least Expensive Rents

As in years past, the most expensive place to rent in the area are Downtown San Diego (Average – $2,49 per month), North County (Average – $2,126 per month) while the least expensive place to rent in the San Diego area continues to be East County (Average – $1,418 per month).

Property Management concept image with business icons.

Get Property Management Here

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