I talk to investors every week that have issues with their purchases and how they are managed. The really important part of buying investment real estate is getting the right people around you from the start.
Property management is crucial to your properties success, if that is bad it doesn't matter how good the property is, it's managing it correctly keeps it producing income for the investor. You also need to make sure that the property management is licensed by the state they are operating in.
When you purchase a property, there is a lot that needs to be considered before the purchase. The information is very crucial to understanding the life of your income real estate.
Going into many homes every week I see many different types of tenants and how they treat their properties. Tenants and what they pay in rent really decides what way they will treat a home. The more they pay in rent the better tenants will usually take care of a home. That is so important to keeping a quality income property or having a property that is always a issue.
Always ask your agent how they are going to help with your property. Not in only finding your home, but leasing it, company to manage, and rehab assistance. During the rehab how will you be updated on the progress? Do they assist after the sale when needed? I personally send update videos weekly to all my clients, so that they can see their properties progress.
The key is getting an agent that understands the property and the life of that property. Get an agent that is seasoned in purchasing real estate and stays with you or the life of the property.
We have purchased 100's of homes for investors and ourselves. We understand the whole process of a income property. Call me I'm Brett 216-703-5740 Icon agent at EXP Realty 2 years and running. We can get your portfolio healthy.
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Thank you