Ventura County CA – The Pros of Rental Property. The tenant pays your mortgage payment. You won't make a lot of money while you have a mortgage. But, where else can you have someone buy and pay off something for you?
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You start to make real money after the mortgage is paid off. In addition, some properties are so cheap that the rent will pay offa 15 year mortgage. So in 15 years you have a free house.
Rentals are a great hedge against inflation. Notice how gas prices are going up again? The prices of everything else increase with gas prices. Food, clothes, electricity, and everything else goes up.
That means your house will go up in value over the long term. But, you locked in the price when you bought it when prices were lower.
I don't want to make it seem like rental properties are a no brainer. There are some risks involved. No one should buy a rental property unless they are prepared and understand the risks.
The Cons of Rental Property
Problem #1: Leaky toilets. This is the first thing you should be aware of. We have seen that most problems are not emergency problems.
Many landlords work around these problems by hiring good help in the beginning. They find a good handy man and negotiate on the price before he does any work.
Problem #2: Management. You can find a good property management company to handle everything for you. But, you still have to manage the management company.
If you do not have extra time to manage problems, then rental property is probably not for you. Some people like this buy larger properties and hire better managers.
They meet with their manager once a month and let them handle everything. This works for them because they bought a larger property with better numbers. That extra money can be used to pay a better, more competent manager.
Problem #3: Collecting Rent. This is where many people mess up. You have to be persistent and firm. If you are a sympathetic person, and prone to give people a "break, then rental property is not for you.
Problem #4: Evictions. This is the bad side of the rental business. Most evictions occur because you didn't pre-screen a tenant well enough.
You must budget enough so that you can afford an eviction when it happens. An eviction will cost you 2-3 months of rent. That is why you must have a rainy day fund for situations like this. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 805-208-0823.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Ventura County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this,
Chris B Johnson, Realtor
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist, Certified Distressed Property Expert
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Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, www.theshortsaleguide.com ,
Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure.
You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read http://venturacountyshortsalerealtor.com/?p=948.
For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Also seehttp://venturacountyshortsalerealtor.com/?p=1066.
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