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LOOKING FOR A GREAT PROPERTY MANAGER? LET’S DO BUSINESS TOGETHER! GET STARTED BY DOWNLOADING OUR MANAGEMENT AGREEMENT HERE then call (800) 716-4950 or fill out the form below and submit your info. A rep will be in contact shortly.
NEW TO THE REAL ESTATE INVESTMENT GAME?
Here’s a guide to help you get started:
Becoming a real estate investor involves planning, education, and taking actionable steps to acquire and manage properties effectively.
- Types of Investments:
- Residential properties (e.g., single-family homes, apartments)
- Commercial properties (e.g., office spaces, retail spaces)
- Industrial properties (e.g., warehouses)
- Land (for development or appreciation)
- Investment Strategies:
- Buy and hold: Rent properties for long-term income.
- Fix and flip: Renovate and sell properties for profit.
- Wholesaling: Contract properties and sell to other investors.
- Real estate investment trusts (REITs): Invest in property portfolios.
- Define your objectives (e.g., passive income, wealth building, or diversification).
- Decide on a target market or property type.
- Establish a timeline and financial goals.
- Budget: Determine how much capital you can invest.
- Credit Score: Improve your credit score if needed for better financing terms.
- Financing Options:
- Mortgages
- Private lenders or hard money loans
- Partnerships with other investors
- Personal savings
- Learn the Market: Research trends, property values, and rental demand in your target area.
- Take Courses: Join online or in-person classes on real estate investing.
- Read Books: Examples include “Rich Dad Poor Dad” by Robert Kiyosaki and “The Millionaire Real Estate Investor” by Gary Keller.
- Join Networking Groups: Connect with local real estate investors and attend seminars.
- Start small with a single rental property, duplex, or fix-and-flip project.
- Focus on one strategy before diversifying into others.
- Determine if you want to self-manage properties or hire a property manager.
- Real Estate Agent: Helps find properties and negotiate deals.
- Lender: Provides financing options.
- Contractor: Manages renovations and repairs.
- Property Manager: Handles tenant relations and day-to-day operations.
- Accountant/Attorney: Assists with taxes and legal matters.
- Property Search: Use MLS listings, online platforms, auctions, and networking.
- Key Metrics:
- Cash flow: Monthly income after expenses.
- Cap rate: Annual return based on property value.
- ROI (Return on Investment): Overall profitability.
- Rental demand: Tenant interest in the area.
- Get pre-approved for loans if using financing.
- Have a clear plan for down payments and reserves for repairs.
- Negotiate the purchase price and terms.
- Conduct inspections and appraisals.
- Close the deal with the help of your agent or attorney.
- Maintain the property to preserve its value.
- Build relationships with tenants for consistent occupancy.
- Reinvest profits into additional properties or upgrades.
- Maintain the property to preserve its value.
- Build relationships with tenants for consistent occupancy.
- Reinvest profits into additional properties or upgrades.
- Start small and scale gradually.
- Be patient; real estate investing is a long-term game.
- Monitor market trends and adjust your strategies.
- Diversify your portfolio to spread risk.
- Keep learning and refining your skills.