The goal is to ensure that you grow your portfolio without over-leveraging your financing.
Petaluma, CA (Vocus/PRWEB) February 02, 2011
In real estate, as in any business, mistakes can cost time and money. Fast Forward Property Management, a team of seasoned San Francisco Bay Area property management specialists with over forty years of experience, offers advice to property owners to help them become more profitable and efficient. Choosing a property to invest in can be a tricky process. The following is a list of the three most common mistakes landlords make when buying property:
1. Buying investment property in the wrong areas - Buying properties in undesirable areas can create many problems. Vacancies will take longer to fill, while crime and vandalism can send property values plunging. Potential landlords should familiarize themselves with an area before purchasing property, and also be aware of local rent control ordinances that might cap rent increases or make evictions difficult.
2. Buying property that is too far away - For those who manage their own property, it is important to purchase in close proximity to their home. Landlords who live more than an hour away from a building should hire a property management company. Otherwise, it will be a drain both on time and gas to drive out to the property every time a vacancy or maintenance request arises.
3. Not buying more property - Fast Forward regularly consults with people who regret that they did not buy more property while they had the chance.
“The goal is to ensure that you grow your portfolio without over-leveraging your financing,” explains owner Genaro Mendoza. “Our recommendation is to buy quality, well-located buildings at a good price, which should ensure a positive cash flow.”
For more information about avoiding mistakes when buying property, property management, and other services provided by Fast Forward Property Management, visit them on the web at http://www.FastForwardPM.com, or call them at (877) 388-0998.
About Fast Forward Property Management
Fast Forward Property Management is a Bay Area property management firm that specializes in managing apartment buildings, HOA, and commercial properties. The staff at Fast Forward Property Management has over 40 years’ experience in rental management. They serve the Greater Bay Area communities of Sacramento, San Francisco, San Jose, Santa Rosa, and Sonoma County.