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Old 05-14-2009, 11:51 AM
 
9 posts, read 22,735 times
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Hi! I am interested in buying some rental properties in Bethlehem and would love to talk to some people who have done it before. I'm interested to hear about the areas you focus on and why, your experience with the city of Bethlehem and real estate agent recommendations.

Thanks,
Denise
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Old 06-08-2009, 07:46 PM
 
Location: Bethlehem
5 posts, read 12,287 times
Reputation: 10
Investing in Rental Properties can be a lucrative business that offers a considerable amount of leverage. Bethlehem can be a great place to begin your real estate investing. With a wide variety of attractions to Bethlehem, such as Lehigh University and the new Sands Casino, the rental market continues to stabilize and grow. The greater Lehigh Valley has also been recently rated Money Magazine's top 100 best areas to work in, making the need for housing strong. But keep in mind that of course location is important when choosing to invest in a property, how you manage that investment becomes even more important. Investing in real estate is a business that needs to be operated as such whether you own a single family rental or 100 plus units. The effects of leverage are two-fold; they increase the investor’s availability of capital to invest as well as the aggregate amount of depreciation available to them while on the other hand this increases the potential risk of loss. If investor does properly manage their investments, they may not generate sufficient revenues to satisfy its debt service and other obligations, which ultimately may result in the investor suffering loss as well as the potential foreclosure of the mortgage loan thereon.


Having a proper management plan in place whether you are going to self manage your properties or hire a professional management firm. You need to prepare for the following types of management activities:

• Prepared the units to be rented
• Determine the market rate rent for your unit
• Design a targeted marketing plan and implantation of said plan
• Handling inquiries and arranging showings of the units
• Through screen of prospective tenants
• Executing of the lease agreement, collecting 1st month rent and security deposits
• Escrow service for the security deposit
• Preparing statement of condition and pre-move in walk through
• Transfer of utilities • Rental collections, Late fee’s, Notice to Quit, and Eviction services
• Conducting quarterly property inspections
• Coordinating preventive maintenance and routine services
• Lease renewals, tenant move outs and security deposit issues.
The above items are just partial list management activities that need handled in order to minimize your risks as well as maximize your return on your investment. Having the proper management in place will put you on the path to success.

Last edited by toobusytoday; 06-08-2009 at 09:27 PM.. Reason: advertising
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