Author: The Moens

Investment Property Questions

So, you may have lots of questions. I know I did when I first decided to buy investment property in Breckenridge.
• Where do I start?
• I have never done this before. Who can help?
• What is the best Investment Property Rental company to work with?
All good questions. Rest assured our speciality is Investment Property Rental. We have been talking about the numbers of it, the various loan options, tax benefits  etc. There are some easy practical questions that can be helpful to know up front.
Almost everybody that lives here, or at least more of us, cater to second home owners and property rentals here in Summit County especially in Breckenridge. There are so many ways to get assistance from filling your refrigerator so it has everything you need when you pull in to your mountain home on a late snowy evening, to shoveling the driveway and deck to prepare for your arrival, and more. We even have inspectors that can go to your home once a week or however often you are comfortable with, and do a walk through to check on your property for you. With todays technology there are tons of companies that have apps so you can check on your property through cameras, or sensors for the heat to make sure your pipes don’t burst during snowy times etc. Whatever your fears or concerns are just call us and after 25 years of selling Investment Property we will be able to help assuage your fears and share our experience with you. That is what we are hear for! We look forward to hearing from you.

Investment Property

[vc_row][vc_column][vc_column_text]Here is a sample of what many rental companies do if you are considering buying an investment property. We would never want to go into something blind and we wouldn’t expect you to either. If a property has been rented as an investment property we typically call the rental company and ask for a couple of years of rental history so we can get an idea of what you can expect in income. We ask for more than one year because snowfall can cause variants, or something like a pandemic (who knew) or the amount an owner used the property can all affect income. If the property has not been rented we ask a rental company for projections. I thought you might like to see what that would look like.

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What’s happening today, you ask?

Well, there is still real estate to be bought. Slim pickings? Yes! But, don’t lose hope. The last few real estate transactions I have made are because I have gotten on the phone and called home owners, or written letters stating “I have a buyer for your home and they are willing to pay fair market value, if you are interested in selling your home!” So here is why this is good for all. You, as a Buyer of your investment property in Breckenridge or your second family mountain home don’t have to get into a bidding war and overpay for a property in Breckenridge. It is great for the Sellers as they don’t have to have people in their home all the time, especially with COVID-19 and worry about keeping it clean etc. It has worked quite well. One way to do this is make yourself familiar with the area and know what subdivision you are interested in or what complex you like. Then, you call me, your trusty realtor and I will write the letter for you. You would want to have your loan application made and your lender ready with a letter of pre-qualification (or better yet pre-approval) and bam! You are the first person in the door. Times they are a changing so we have to get creative. That is where my 25 years come in handy. Just say’in….
Next blog let’s talk about the difference between pre-approval and pre-qualification for a loan.