6 Things To Look For In a Orange County Rental Property

When you are ready to purchase your next Orange County rental, there are a few things to keep in mind when looking for a property. Here are six things to look for in a Orange County rental property:

Location

Having a rental property in a great location means you will have plenty of tenants to choose from. Your property will always be in demand, and you should experience low to no vacancy rates. To be safe, of course, you will still need to factor in the suggested vacancy rate to your rental proforma. Great rental properties are usually near high performing school systems, grocery stores, shopping, entertainment, and may also be a short drive from major highways or other large attractions in the state. 

Cash Flow & Growth Potential

A great rental property will have a positive cash flow every month with minimal expenses and minimal vacancy. Your rental property will also be great if it has growth potential. If it is in a great location and demand is high, you will be able to justify raising the rent especially if one tenant moves out and another is lined up to move in. Make sure you keep an eye on the Orange County market rental rate and stay close to that. If you mark your rent too high, you may deter some tenants.

Property Condition

A great rental property will be in excellent condition. You may have to do some upgrades to the kitchen or bathrooms at the time of original investment, but overall it will be worth it. Tenants are willing to pay for quality. Also keep in mind, the better the condition of the property, the fewer repairs that will need to be made, and less likely the tenants will take it for granted. In general, they will work to keep the property in great shape for you!

Property Management

A great rental property takes great property management! You may want to consider hiring a property management company to turn your investment into a great rental property. For help selecting a great property manager in Orange County or CA, give H&M Realty Group a call at 949-625-4533 to discuss your needs and intended level of involvement. You want to make sure you maintain the integrity of the structure and surrounding yards, all major appliances, and HVAC systems. 

Property Value

A great rental property will be valued at more than you paid for it! In order for this to happen, you may have to purchase your rental as a distressed property and put some money into it. If it’s in the right location with the right demand, your property value should slowly rise and make for a great profit in the future! Just make sure you hang on to it for more than a year, the longer the better for reduced capital gain taxes. When this happens, it makes for a great exit strategy.

Market Trends

It is important to keep an eye on market trends for your rental property in Orange County. You want to make sure your rental is keeping up with the rental rates and property values. This will help your property make as much money as possible for a great rental property. This will also let you know when the best time to sell your investment is. If the market starts taking a downward turn, you want to make sure and sell your rental property while it will still make you a profit!

When you work with H&M Realty Group, we take the guesswork out of the buying process. We research our properties and make sure they will fit your investment portfolio. Give us a call today at 949-625-4533 to discuss these six things to look for in a Orange County rental property.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

Get More Real Estate Market Info... Subscribe Below!

Learn more about us and find other resources on buying investment properties with us. Like us, follow us, connect!

Access Local CALIFORNIA Investment Property Deals...

Handyman Properties - Fixer Uppers - High Equity. *These are not on the MLS - Many are below $300k. Available properties on the next page.
  • This field is for validation purposes and should be left unchanged.