They might have increased the value of the property since they bought it, so they're ready to sell it to make a profit. It could also be that they weren't able to manage it effectively. You should obviously look at financial statements to see what the returns would be like coming from the property. You might also consider hiring some sort of management company to take care of the day-to-day. http://www.spectrumpropertymanagement.com/provo-utah/... more
With properties now increasing in value, now may be a great time to purchase in this popular area. Most people who are planning to move out of state do sell the home and take the profit. There are some who decdie to rent. the key decision is often can they afford to pay the mortgage if the house were to go vacant for a short time. I manage homes for rent and there are other companies who do as well. If you would like to email me direct firstname.lastname@example.org I can quote you managament fees, but they can not be discussed on an open forum due to federal anti trust laws. You would then need to look at what the home would rent for compared to your monthly cost and see if teh risk is worth the reward. if you would like help in finding a home, i would love to help you.
Joe there are distinct differences in rentals. Single family is teh most popular but the least in numbers as most are owner occupied. Condominiums are very popu;ar as investments as they have less maintenance and more amenities such as pools and club houses. Condos make great rentals. The most common rental is a multy family home becuase there are mnore of them.... more
Are you looking for a multi family investment? I am assuming by you question you are. But you may also be looking for a fixer upper that you can buy, rehab, hold and sell as the market starts to improve. There are a number of multis currently available, most are at the beach which would lead to the question of how you want to run your rentals. Yearly or seasonally. Either way, there are a number of options out there depending on your price point and the rate of return you want. Feel free to call if you want to chat. Lisa Newman. BHG/The Masiello Group. 603-601-1117... more