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Long Term Passive Income Through San Diego Foreclosures and REO Rental Properties

It sounds like being a landlord is getting some bad press in the media when it comes to San Diego foreclosures and REO investment homes and properties. While difficult situations can arise even in the midst of the best opportunities, you are more likely generate a great income than be a horror story. The following are tips for success if you are looking into investing in San Diego foreclosures and REO's.

• Buy Low Sell High or Purchase down and Sell up

We know you know this already but sometimes people forget or get caught up. The first key to making owning rental investment properties in San Diego work is to think of yourself as the manager of a cash-flow resource rather than a rent demanding, problem fixing landlord.    Number 1 top of the heap rule to follow is...

Buy your property well below fair market value.

By making a great deal on a rental property in San Diego, your cash flow could begin almost immediately, with mortgage payoff a mere five to ten years away.

• Do Your Own Repairs Around the House

Next in importance is to understand and apply basic home repair. Learn to do maintenance and light repairs on your foreclosure properties and you will save tons of cash and frustration

• Manage Money and Tenants

The right tenant for your San Diego rental property will help you sidestep a lifetimes worth of heartache. Managing the income and outgo on your properties is equally vital to your economic and mental health. 

• Be a Great Landlord

At points you will be a handyman, a collection agent, an administrator, but your primary role is to make money.  Banks earn profit by controlling capital and then loaning it out. You are lending capital in the form of shelter for a return.   

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