Right now is a fantastic time to invest in the Long Beach real estate market, whether you’re a newbie in real estate investing or adding to your portfolio. The opportunities for investing here are endless in and around the Long Beach, CA, area. Today Long Beach property management experts at RTI Properties, Inc. are sharing here three reasons investing in the Long Beach rental property market makes sense.
Table of Contents
- » Reasons Investing in the Long Beach Rental Property
- » Get Your Investing Started
- » Getting Your Investment Goals Established
- » Identify Opportunities to Invest In
- » Working with the Right Property Management Company
Reasons Investing in the Long Beach Rental Property
1. A Strong Economy
The economy in Long Beach is stable and robust, thanks to a great job market. Several companies, local and international, set up their headquarters and corporate offices here on the water, city, and nearby LA and San Diego. Every industry has representation in Long Beach, CA, with several income levels, locating an excellent career-building move in this area. The quality of life in Long Beach is a massive part of the contribution to the economics here, with plenty of dining, recreation, and shopping attracting new residents and keeping them here.
2. Vacancy Rates are Low
Currently, even in this seller’s market, rental property is obtainable below asking prices, making this an affordable place to invest and build a portfolio. With high demand and low inventory, excellent tenants compete for well-maintained properties to call home. Rental property owners can find well-qualified tenants easily and quickly that are willing to stay, even annual rent increases. In 2016, there was a 1.76% COC return for traditional rental of single-family properties.
3. A Diverse Market in Long Beach Rentals
Single-family properties are a hot commodity in Long Beach’s high-quality neighborhoods with a close-knit community feeling, excellent schools, and easy access to the freeways. Apartment buildings and duplexes are plentiful and prime for an investment property portfolio, including condos and townhomes. The number of quality commercial properties is plentiful and offers a strong ROI in Long Beach, CA.
Get Your Investing Started
The rental property in Long Beach is the ideal place to create, diversify, and stabilize an investment portfolio, especially for a first-time investor. For high cash flow and low flexibility risk, the Long Beach market is an attractive market for investors of all levels. If you own one or more rentals and want to get the maximum ROI of your Long Beach real estate investment, contact our rental property management experts.
Getting Your Investment Goals Established
Evaluate your present investment situation before going into rental properties so that you can establish practical and sound investment goals. Is a 1031 exchange involved in your plans for buying a rental property, or have you inherited a property with rental units? Are you looking for a place to park your funds? What are you hoping to gain from your investment in the long-term and short-term? Are you looking for a property that will build equity as it appreciates?
Identify Opportunities to Invest In
With a clear-cut understanding of a starting point and desired destination, it is time to identify potential investment opportunities. Are you looking for a low purchase price, then distressed properties may be the investment. Or are occupied properties that are turnkey your preference?
RTI Properties, a well-reputed Long Beach Property Management company, can guide you in making the decision that fits your starting point and destination by running the analysis with an underwriting template. We can compute your ROI, and the time it will take to prepare a property for rental business. We’ll have you on track within six to twelve months for your first tenant, depending on if you’re looking to do complete rehab or a cosmetic upgrade.
Related Article: How to Maximize the ROI of Your Long Beach Property
By working with professional property managers like RTI Properties, you’ll have a team on your side that understands your starting point and end goals and your aspirations and dreams. We understand how and what impacts cash flow and returns, and we’ll advise you on when and where to change areas for your investment, like moving inland and making serious upgrades that bring you five percent ROI or more.
Working with the Right Property Management Company
Choosing the right property management company will give you the inside track for investing in rental properties. You want a company that can show you they are making you money, not spending your money with a set process, system, and up-to-date technology. A strong property management company will keep your properties occupied with the best tenants by keeping them managed and maintained. At RTI Properties, Inc., we’ve been providing premium property management services to Long Beach rental property owners–handling anything from financial reporting, tenant acquisition, maintenance, and more to keep your rental running smoothly.
To learn more about our full-service property management solution or receive a free property management quote, call our team directly (310) 532-9122.