We rec'd a call yesterday by a lady that was interested in investing in real estate. When I asked her where she found us, she told me that it was by searching for foreclosures on line.
Apparently she had been looking for a Santa Clarita Foreclosure agent adept enough to handle her needs with regard to investing in real estate in the SCV. I told here that I'd do what I could help :)
She came into our offices today and talked about coming into some money left to her by her departed mother's life insurance policy. I got some preliminary information out of the way - like if she has a place to live now, who else will be participating in the viewing and offering, and what is her ultimate goal - flipping, sustainable income, wealth?
She wants to do some buying and renting. She was looking for advice on that front. I started to explain the market then I asked what kind of tenants she desired. She looked at me with a puzzled look on her face, I then said, those that pay their rent in the form of cash or those that are a bit more "documented" in their approach.
She explained that she was also looking as best re-sale as a possible option, so the area and the crime profile would be something she'd be interested in taking up with the Sheriff's Department.
I got it and we covered some of the areas that seemed to fit her needs, talked about current rents and prospective spring time rental increases in the Santa Clarita Valley. We also talked about the advantages and disadvantages of hiring a Santa Clarita property management company to service her real estate. While I have mixed emotions about some of the choices you have when wanting to find local Santa Clarita property management, sometimes they are the best fit for investors.
Working out the number when it came to investing in the Foreclosures, that are not on the market for sale in the Santa Clarita Valley, was a key component with our meeting. Deducing where prices are currently and what the discounts are for most of the REO inventory that is entering the Santa Clarita foreclosure market.
Please do yourselves a favor - get the best advice you can find when it comes to spending any $$$ with investing in Santa Clarita real estate. Hang tough and do some googling when it comes to investing in real estate followed by the name of the city or area you are interested in.
Head over to our Santa Clarita radio show podcast to see our latest shows - one is presenting the Expert Santa Clarita photographer, Yoti and the other with LAPD Author, Kathy Bennett.