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Investing in Real Estate: Property Questions

What defines the property in terms of rules and guidelines for the local area or the community the property resides in....? What type of things, whether it's a single family home or a condo, do you have to fix and maintain? For example, do you have to pay for upkeep of the wash and drier in the building....

As the owner and landlord of a property these are some of the things you're going to have to keep in mind:

  • Is it designed as a rental community with Covenants, Conditions, & Restrictions (CC&Rs) tailored to out-of-state investors?
  • Located and designed to attract the type of tenant you want for your property – low income, college student, professional, families, seniors, etc? Who is the target tenant for the property and would they want to live there?
  • Is the building fit the local marketplace in size, construction, and amenities?
  • Can you make improvements to the units themselves? Add a bathroom for example to entice a particular tenant.
  • How well is the surrounding area taking care of - the landscaping, the pool, laundry room, elevator?
  • You don't want things to look unkept or things to breakdown. Turn around time for repairs must be fast. If not, then you will lose tenants.

Questions you should ask in specific areas:

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