Successful Investing – When should I talk to a property manager? What should I ask? Call when you select the property you would like to purchase and ask for a rental value to make sure it meets your income objective.
When to Contact a Property Manager
Successful investing requires a great deal of finesse and experience. Whether you’re just starting out or looking to improve a steadily growing business, the advisement of a qualified property manager can help you invest smartly and provide sophisticated management for your current properties. Property management firms not only offer professional managers, they can also refer you to trusted contractors and are familiar with the area and its property values. Before you purchase a potential investment property, it’s always wise to get a second opinion and pick the brains of local income property pros.
If you’re wondering when it’s a good time to contact a property manager, we recommend doing so prior to making a purchase. In theory, you’re already working with a trusted real estate agent who is finding you desirable properties to consider. Once you’ve found one you like, call a firm like PURE Property Management to consult with a property manager. They’ll help you determine the rental value of the building based on comparable properties in the area, which will help determine whether it will meet your income objective. This sort of insight is invaluable for investors who wish to select their income properties carefully for maximum value.
When you’ve made the decision to buy, property managers can help you get the property up to snuff if necessary through their connections with local contractors. You’ll also receive recommendations for real estate attorneys and CPAs who can help you draft contracts and figure your finances. Once you’re ready for tenants, your manager will take care of background checks, advertising, and finding you qualified tenants to fill your units, whether those tenants are businesses or residents. With their guidance, you’ll find the set the most profitable rent and be earning from your income property as soon as possible.
For more information about property management and real estate investment consultations, as well as local referrals, contact PURE Property Management online or by phone at (707) 524-8380.