I have had lots people today who over the years ask me, in my opinion, what is the important thing about investing actual estate? Everybody always assumes its price, location or timing the market successfully. After over 1300 real estate transactions primarily to investors worldwide, I can say without a doubt that property management is the single fundamental piece of the investing puzzle. In real estate, you can make a mistake on price, pick an iffy neighborhood, or work with a bad contractor and definitely be profitable. Hire the wrong property manager and may do lose your shirt immediately! Don’t get me wrong, location, price and rehab are huge factors in real estate investing and are necessary. With the right property management company in place however, you can make a mistake or experience a down turn in a market or neighborhood and still realize a good return through positive cash brook. A good property manager protects ignore the in the long-term.
Obviously, the next question for you is “how do I look for a good property manager”? Here are several tips on choosing a good management company. This does not necessarily mean you; someone else will be managing your property.
Get a referral. Typically, when you invest, techniques people in your peer group or circle of influence that are investing in the same market tend to be or know of a kid who is also investing during this market. Ask them who they are using, who they used to use, and why they switched. Find out these details is all like about their management company but more importantly find out what don’t like about them. The management company may perform great job of placing tenants but are short on the communication department; without communication, you’re sunk! To be able to your management company is really important for the investor’s peace of mind. Is definitely real nothing worse than leaving a message or sending a couple of emails and all you hear are crickets in the backdrop. At first, you assume subjected to testing busy and will are allowed to you soon. After a while, though, investors start wondering why no is actually responding and that’s when panic sets in. Did the tenant leave? Did the management company run off with my money? DID MY HOUSE BURN Down? Generally, none of the above is true but a good property owner will respond within each day of your inquiry.
Ask the management company that you are considering doing business with for references. Ideally, I believe you want 5 to 10 references from previous clients as well as current clients that have been using the management company longer than 1 current year. If they are not willing to provide you with any past clients, pass on folks. When you get the references, Call them. Ask them the same concerns what they like and like.
Get a list of policies and procedures from the management company. You need to know how have marketing of the properties for tenants, late payments, evictions, maintenance calls, inspections, accounting, owner disbursements, etc. A good management company could have this information simply.
Strawberry Property Management Las Vegas
3651 S Lindell Rd d432, Las Vegas, NV 89103
(702) 329-8899