When you enter a new area and are looking for investments one of the most important things to look for are quality professionals.
Agents who know and understand investing and property managers who are diligent and honest.
Here are some of the things we want to find out about:
AGENTS
- Do they understand different Neighborhood Class?
- Have they owned investment property in the past/present?
- Are they able to assess the condition of a property for repairs and differed maintenance?
- Can they estimate rents and expenses for property?
- Do they have a good feel for the market?
- Do they know what problems investors are going to go through in the area?
PROPERTY MANAGERS
- What are their monthly fees?
- Do they charge a rent up fee?
- How do they handle maintenance? In house or hire out?
- Are they responsive? Do they have staff that helps them out?
- How long they have been in the business?
- Will they pay bills and expenses?
- What is turnover in the area like?
- What are their typical turn over costs to get a unit ready?
