Welcome back! This week’s buying rental property part 2, we will cover some information about the property purchases. Our first blog covered some of the things to consider before investing. Before you buy you need to know a bit about the property! Personally, I use a checklist of things to check before investing, ensuring I don’t miss any important details. There are a ton of State and Federal laws that govern real estate investment and properties. Without making it a point, your Realtor is a vital resource and will keep you from a potential hazardous deal! If you aren’t working with a real estate agent, be incredibly careful when looking at investment properties. It really is a field where we earn our commission!
- Looking for the “deal.” For the most part, you get what you pay for when buying rental property! “Deals” don’t typically exist and there are many variations
Most outsiders wouldn’t consider Post Falls a “vacation” town. Geographically, it is located between Coeur d’Alene and Spokane and is typically considered a bedroom community. In less then 15 minutes you could be in Coeur d’Alene with the downtown bar scene, or watching an IMAX movie in River Park Square! Truth is your not going to stop in Post Falls for a weekend, but if you skip it altogether you will be greatly missing out. There are several amazing places to stop in Post Falls and you won’t want to skip it! The Spokane River dam (and where Post Falls gets it’s name) is an incredible site! Pictures never do rushing water justice, and its certainly true here! A short trip out from Post Falls proper is Falls Park. Surrounded by green forests and great places to each lunch or dinner, its a great stop for outdoors loving folks. …
Thinking about buying rental property? I’ve found that most people look to real estate investing as something to do “in the future, when we aren’t poor” or “a nice dream but not really practical.”
In actually, mortgage rates have been low enough in recent years that almost anyone could start looking towards real estate investing. Lower mortgage rates, and higher rental rates typically signal a good time to buy! I have found a couple helpful tips when you are considering buying rental property.
- Find a trusted agent. Not all real estate agents are created equal! Just like in any other field, Realtors often focus on different fields of real estate. You want to make sure and work with an experienced Investment Realtor. Starting off with an expert will help you learn more about buying rental property and you can avoid common mistakes that will cost you more money. An investment
Vacation Rentals are Filling Up Quickly!
We’re getting closer to summer time and everyone wants to come stay out on the lake! Vacation rentals are big business here in Coeur d’Alene and as we get nearer to warm weather it gets harder to find the right vacation spot! Here are a few helpful tips to make sure you get a great place to stay!
- DON’T WAIT. Most vacationers think we jack up the price closer to the season start! Truth is, we have people book so early the price never has a chance to increase! By waiting you just risk losing the perfect vacation home!
- Check with the Rental Company. Sometimes when we acquire a new vacation rental, we are able to rent it before posting it to our website or VRBO! Give us a call to check if we have any unlisted properties available!
- Ask about off