Tips to protect your real estate investment properties
Real estate is a smart investment. Taking care of your investment to ensure a monthly cash flow is even smarter.
Whether you’re new to multifamily or rental property investing or already have a well–established portfolio of properties, a good property manager can be the key to a successful experience as an investor and landlord.
The best property managers are experienced, trustworthy, hard working, and put a property owner’s best interests first and foremost. Finding the right fit can be tricky though. Some landlords aren’t local, some want to be completely hands off, some are looking for a partnership. Some investors have multiple properties in their portfolios – others a select one or two.
When considering if you should hire a property manager (or property management company), you’ll want to weigh:
- Property location
- Number of units or properties you own
- Your own property management experience
- Your finances
- Your time and availability
- Questions of trust, control and liability
- Vacancy rates and cash flow
- Tenant relations
Do your homework, confirm references, never stop interviewing property managers, fit the manager to the property, check in regularly. These are just some of the pointers to keep in mind to be sure the value of your investment property is retained.
When you need a financial boost as a property investor
Even with the best property manager on board, there are times you need to make additional financial investment into your property – sometimes unexpectedly.
As a hard money lender, we can help provide fast, convenient cash loans when other sources maybe can’t or won’t come through. Give us a call to talk about our Gregory M. Russell hard money loan services and ways we can help you keep your investment property in tip top shape. 1-888-477-0444.