Property Managers: Rental Property and Expanded Services Can Generate Huge Profits

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Rental Property and Expanded Services Can Generate Large Profits

 

In my last post, I discussed how 2008 will be a terrific opportunity to acquire rental property from motivated landlords with negative cash flow properties.  As property managers, we can leverage our personal rental properties and expand our services to generate substantial profits for our company.

 

Property managers have a enormous advantage in becoming able to purchase a property below market and comprehend instant equity. We have access to a pool of motivated sellers, MLS, and can earn a commission at closing. The return on your investment can be further increased with monthly cash flow, principle reduction, yearly appreciation, and tax savings in depreciating your rental property.  However, only licensed real estate experts can use rental property to create small business income.

 

I leverage my individual rental properties to generate enterprise revenue for my companies. We supply maintenance and repair services, sales, leasing, property management, and mortgage services.  Our goal is to create as a great deal revenue per client as achievable.  We supply a one quit shop for our clients and industry to buyers, builders, Realtors, sellers, investors, and tenants. What improved client to leverage our services to than tenants renting homes that I own.

 

We help tenants in repairing their credit, acquiring a mortgage, representing them as a buyer’s agent, and utilizing our in house maintenance organization to assist them fix up the property or make any important repairs. We offer you incremental savings with every single further service they pick out. For example, if the tenant utilizes our buyer’s agent and mortgage services, we will waive the loan origination fee. We will also discount our repair and maintenance services. Bundling our services at an aggressive price point gives a win-win scenario for both the tenants and our firms. We earn incremental company and potentially save tenants thousands of dollars. Not only are tenants pleased to make use of our services, but they refer organization to us as properly. Our state requires that we disclose a multiple role form when supplying real estate and mortgage services.

 

In our marketplace, there is a substantial demand for house buyers who just sold their dwelling and need a place to park although they create a new home. Couple of property managers supply lease terms less than six month, due to the fact short term leases are not profitable for the owner. I fill this marketplace demand with properties I personally own and network with Realtors and builders and present short term leases for their customers and consumers. In return, I ask them to refer my firm future property management organization. We will refer the owner back to the Realtor if they determine to sell the property in the future. This makes the sales transaction go really smoothly, and Realtors are thankful for us providing this service.

 

Our maintenance enterprise specializes in getting properties ready for sale and lease. We do small and substantial projects. We market our maintenance and repair services to homeowners and Realtors. Most Realtors don’t have relationships with maintenance vendors. We offer reliable services at reasonably priced rates. Our handymen are full time staff, and we deliver corporation transportation. Our maintenance organization can take care of most inspection repair items, and we can help Realtors in finding their client’s residence ready for sale. 

 

The additional properties you own, the more you can leverage your services to generate home business income. I encourage property managers to take benefit of near record low interest rates and purchase as a large number of rental properties as possible. Contemplate expanding your service offerings. Mortgage services are particularly profitable and need little capital to get licensed. A number of states demand only a couple of classes to obtain your loan officer license, and you may well be able to get real estate MC E credits with the completed classes. Look into subleasing some of your office space with a mortgage broker who will pay you rent and sponsor you as a loan officer. Providing maintenance and repair services can generate future genuine estate customers. A homeowner needing painting services may be in the marketplace to lease or sell their property.  Expanding your service offerings and levering your individual rental properties and can give a limitless return on your investment.

 

In my next write-up, I will talk about how property managers can take benefit of tax loopholes only offered to licensed genuine estate agents.