Buy A Rental Property
HOW, WHERE, WHEN, WHY – Your questions answered below – or simply contact one of our professionals.
Buying a rental property doesn’t have to be scary!
We pass along everything you need to know about buying a rental property, learned from over a decade and over a thousand managed rental properties.
How do I start the process?
The best way is to contact our Sales Division! Our experts can help point you in the right direction to begin the process. Acquiring rental properties involves a different underwriting process than purchasing a primary residence, and most lenders will require a higher cash down-payment and larger cash reserves. Let our Sales Team help you navigate the process!
Where should I buy a rental property?
This is where the expertise of Real Estate Solutions comes into play. We can tell you which areas are hot, which areas are not, and which areas we think are a great investment. There is no substitute for our “on the ground” expertise. We know which parts of town have too much inventory, which ones do not have enough, which areas have the best ratio of purchase price to rental rate, etc. We manage properties of all kinds, in every area of greater Denver — we can tell you whether a property is likely to be a good investment or not.
What is my risk vs. reward when owning a rental?
Risks: non paying tenants, major repairs, extended vacancy costs, turnover costs. Rewards: building equity each day and each month, often periods of 5-7 years or more with little-to-no expenses or involvement. Someone else pays your mortgage for you and you get to enjoy the benefits of property appreciation at the same time. Risks are greatly diminished with professional management – which is also very inexpensive and frees up your time as an investor.
1000’s of Denver Rental Properties Under Management
We’ve managed 1000’s of properties of every shape and size. Discover what you should know the type of property you’re planning to invest.
How To Buy A Rental Property
We make the process easy and we customize our approach to your needs.
Contact Real Estate Solutions to speak to an Elite Sales Team Member – they can point you in the right direction for financing, unless you already have that in hand.
Once your financing is in place – or cash if you are buying with cash – Contact Real Estate Solutions to begin the property identification process. The “where” aspect of this process is very important and your Real Estate Solutions Sales Expert will help you to begin identifying the most attractive purchase for your needs.
Once you’ve identified your subject property, your Sales Expert will submit your offer and help you negotiate the best possible deal. They will keep track of deadlines, manage inspections and the entire process through closing.
Once the contract is in place and you are headed towards the closing date, you’ll want to contact the Real Estate Solutions Property Management Team to start the process of property management. Our Team is setup to seamlessly hand off clients from one division to another, ensuring the property management process begins the day you close on the property.
Once you have closed on the property, our property management Team will immediately get to work on finding your highly qualified tenants and reducing your vacancy time. Expect relevant, highly detailed weekly feedback while your property is listed on the rental market until the time it is rented. Real Estate Solutions property management division will communicate with you every step of the way and very soon you will be collecting your rent checks and cash flowing on your new investment!