Is your Portola Hills home going to be your first Rental Property?

Did you know there are over 200 original owners here in Portola Hills.  The community was started in the late 80's so that is nearly 40+ years of equity growth for those homeowners.  Especially with the median price of the area nearing $1 million dollars.  

Most of those homeowners have very low mortgages or the homes are paid off, which provides them with a wonderful opportunity to leverage their equity into other rental properties.  Perhaps the original home could become or has become their first investment property.

With rising rents, right now is an excellent time to perhaps take the jump to become a landlord.   Check out these 3 Mistakes we see first time investors make in the real estate market.

1.  Not doing a cash flow analysis. 🤑 It is easy to say, oh my mortgage is this, I can rent it for that and do the math.  But it goes much deeper than that, understanding your overall cost is critical step in planning.

2.  Not working with a real estate agent. 💁‍♀️ Truth, having a Realtor on your team who understands your goal is like having your private sales force.  As well, if you are considering renting your home, an Agent can assist you in find a qualified tenant.

3.  Not saving for Maintenance 🛠 Unexpected things happen in homes.. but now you have tenants so you can really put off getting things fixed. Putting a portion of your income away for maintenance will be a budget saver when something breaks.

One of the most important things to note Real Estate is a hard asset and the only Asset throughout history that has consistently beat inflation.  So if your portfolio isn't doing so hot, right now and you have a bunch of equity sitting your home, you could be missing a valuable opportunity. 

Looking for more Real Estate Investing Tips..  Request our Home Value Report and we will also send  a copy of our Investor Newsletter and with Tips, Hot properties and Off Market opportunities.  We know you'll love it!


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