Our blog topic today is Contra Costa real estate investing. If you have decided to invest here, your first step should be to determine your goals. Establish plans for cash flow, returns on investment, the type of property you want, the type of tenants you want, the location and other details so you know whether the opportunities available in Contra Costa will satisfy your needs.
Determine the amount of initial cash investment you want to make. Think about what your financing will look like and what kind of down payment you’ll be able to make and the interest rate you’re looking for. Currently in Contra Costa County, property values are increasing, which is great, and so are rents. This is a firm rental market, and properties are renting quickly for higher rents. It’s a great time to look around and invest here.
Determining your targeted property cash flow is a must. Once you find a great house, you want to analyze the property and the market in detail. Look for a software program that will help you analyze. Or, you can use a cash flow analysis spreadsheet like we have. We can customize it in every facet, which is essential when figuring out your own cash flow potential. Once you find that perfect property that comes with a great deal, analyze it and determine what the cash flow is and the other indicators that will affect the way it performs as an investment. Include targeted appreciation and what the depreciation might be, and whether you need to consider Section 8 and taxes. Do this quickly and accurately. That great deal won’t be around for more than a couple days.
Finally, you need a local real estate investment team, preferably one that is at your finger tips. If you have a pre-established relationship with them, you’ll be able to act quickly. Make sure your team is experienced in the local market, and they know it inside and out. At Golden Gate Real Estate and Management, we have been investing for years. We have mentoring programs and field trips that allow us to train real estate investors. We help people buy homes, exchange homes and add to their portfolios. We are more than a Concord property management company and we think managing a property includes helping owners with exit strategies and portfolio growth.
If you need more information about investing, or you have questions about Contra Costa County, don’t hesitate to contact us at Golden Gate Real Estate and Management.