An investment property is a property purchased or developed for the purpose of earning income.  It can be a smart investment if you research the pros and cons involved before making the purchase.  In addition, a rental property can build equity and generate cash flow.

If you’re thinking of investing in real estate, be sure to consider the following when shopping for your next investment property:

  • Property type: Determine the type of property you want to invest in – condo, single-family home, townhouse or duplex?  Do you plan on renting it out year-round or only during certain months of the year, as a vacation property? Or perhaps a property where you will live in, while renting out a floor or the basement to tenants?
  • Location: You might want to consider buying property in a high-demand neighborhood or a popular vacation spot.  Although such properties come with a higher price tag, you can gain a return on your investment by renting it out at a higher price.
  • Repairs and upgrades:   If the property requires costly repairs, take into account whether you’ll earn your investment back.

Orange County Mortgage has the products, price, and service that can help finance your investment property. Contact one of our experienced mortgage advisors, or call us at (714) 907-6139 for more information or whenever you’re ready to purchase your next investment property.