Real estate investing in Boulder, Colorado offers plenty of opportunities if it is done right. All across the United States, more and more people are choosing to rent, and more people are choosing to rent in Colorado every day. Nevertheless, there is some advice that is simply universal, and “The ABC’s of Real Estate Investing,” by Ken McElroy. In his book, McElroy offers up sound advice that you can apply to real estate investing in Boulder, Colorado, or most anywhere, for that matter.

There are 10 fundamental imperatives that should be a follow if you’re to find success in real estate investing. At All County Boulder Property Management, our approach to business aligns perfectly with McElroy’s fundamentals. Our property management professionals know that real estate investing in Boulder, Colorado is a powerful tool for building wealth, for gaining freedom, and for providing for your community. If you’ve recently made the decision to take on real estate investing, uphold the following 10 principals and success will soon follow.

1. A Goal Not Written Down Is A Wish
As an investment property owner, having and sharing your investment goals regarding property, return and long term strategy will create the path to it to become a reality.

2. It Takes A Team
Assembling a strong partnership and service team is essential for successful property management.

3. Do Research
Up to date research that includes information on the rental market is essential to maintain an investment edge.

4. Market Focus
Knowing the area market intimately provides specific and unique information about rental areas.

5. Property Ownership Is A Business
When investing in property, it cannot be bought and forgotten; it must be managed.

6. Experts Are Important
Using property managers to focus on your investment properties ensures that your investment is being taken care of even when you are not there.

7. Know And Understand Your Finances
Detailed financial reports that verify income and expenses are needed to keep owners in the know about all financial dealings and must include year-end reports for taxes.

8. Commit To Purchase
If the finances and numbers work, then commit to the purchase.

9. Do Due Diligence
Complete a thorough inspection of the property, perform a thorough background, credit, and previous landlord referrals of possible tenants. Comply with all local and Fair Housing laws.

10. Property Planning Make sure regular maintenance is scheduled (furnace inspections, sprinkler blowouts, etc.) and that anything done to the property is adding value.

For more information on gaining a competitive edge in real estate investing in Boulder, Colorado,
call (720) 428-2100 and ask to speak with an All-County Boulder property manager.