Real estate investing is about having patience and making the right choices. It starts with making the right purchase decision, and those choices continue as you build relationships and leverage the expertise of trusted professionals. When it comes to owning investment properties, just like in so many other areas of life, it all comes down to who you know.
Real estate attorneys
A real estate attorney can be a make-or-break decision in a real estate transaction. These professionals help draft, review and manage the real estate documentation, including contracts and titles. The legal guidance from the real estate attorney is critical to ensuring the transfer (i.e. purchase or sale of a property) is legally binding and in your best interest.
Having the right tax expert in your corner during a property investment transaction could save you thousands. Do your research when it comes to hiring. This includes seeking referrals, reading reviews and even getting a second opinion when it seems necessary.
Staying on top of maintenance and repairs can also save you thousands. It’s necessary to manage a maintenance checklist for things like plumbing, HVAC, electricity, etc. consistently. If not managed properly, the cost compounds as damages and their side effects quickly add up. Finding and employing a trusted and well-reputed handyman or handywoman is the key to avoiding such a mess.
Property Management Companies
A property management company is a one stop shop. It handles the prospects and the tenants, and will take care of a host of services. These include: consulting services, including brokerage and assessment; development services, including contract management and disposition; administrative management, including tracking and monthly statements, collection services, and financial management; and maintenance services, including interior and exterior repairs and operations, lease management, and application screening.
Need a trusted property management company in your corner? Contact Class A Management today.