Investing in real estate is a great choice, but the United States is a huge country, and you need to decide where you’ll get the best return on your investment. You want to work with a Realtor who is also affiliated with a San Antonio property management company. As a Realtor, that professional will understand the market and how to get you a great deal. As a property manager, you will get expertise on what works well for rentals and which laws need to be followed. So, this one person can help you find the investment, place a tenant, and maintain the property. Check out our blog on choosing a good property manager, and what questions you should ask.
Rental Property Investing for Beginners
When you decide to invest, determine where you will really get the best return on your investment. Think about the cost to acquire the property, the amount of insurance and taxes you’ll pay, and what you can really expect to earn in rent. You also need to figure out what the vacancy rates are in the area where you’re thinking of buying. These are all really good questions for your Realtor/property manager.
Ask about the specific regional challenges based on the population and laws in the area. For example, in L.A. you actually have to pay taxes on the rent you collect, and then there is rent control in other large cities that limit your profitability and your ability to maintain your investment. You don’t want to own a deteriorating building; you want to be able to pay for it. Determine whether the laws in the area really protect the interests of the owners, or whether it will take you six months to evict a nonpaying tenant. In Texas, it takes us four to six weeks to get a tenant out of our properties.
Choosing San Antonio
San Antonio, Texas offers a great environment for investors. You get a great return on your investment, you can afford a property, and you’ll find a strong rental market. There are strong laws and leases that protect the owner in case your tenant stops following the lease. You’ll get a good property manager who protects your interests. You won’t have to worry about rent control, and there are some exciting and very safe neighborhoods.
Are you sold yet? If you’d like to hear more about investing in San Antonio, please contact us at MHN Property Management. We’d be glad to help.