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Property Management Tips For Investment Property Owners

Property management knowledge and experience is very important when it comes to managing the properties that are in your portfolio. The care and attention that a property manager takes with an investment property can make a huge difference to the success of an investment property.

If a property manager is careless with the management there are several things that can happen, some of which are listed below:

1. Rents will start to accrue and will be difficult to recover, even to the point where there may have to be legal proceedings

2. Tenants damage the property

3. Maintenance is not kept up to date and over time what would have been ‘repairs’ become ‘replacements’ which is a much more expensive exercise

4. Rents are not achieving full potential because the property is not as attractive and competitive as others on the market due to it looking ‘tired’

5. There is major damage to the property and tenants are not removed promptly

So to ensure that your property will be managed properly here are some tips:

1. Research the area and find out where the good property management teams are. Speak to them and interview them to find out exactly what services they offer and what charges they make.

2. Check that they send you monthly reports on the property and three monthly inspection reports. In this day and age there is no excuse that they cannot take dated photos to send to you.

3. Tell them that you would like to inspect the property with them at least once a year so that you can personally keep updated.

4. Discuss with your property manager your purpose for owning this property as regards cash flow, costs, future goals (rehabbing or freshening up between tenants, etc) so that they know exactly how you want the property managed.

5. If you find that you cannot get the satisfaction you want from a property management team do not hesitate to finish with them. Before you do though, make sure that it has not just been poor communication that has caused the problem and one which can be fixed quite easily.

As a property investor you are in the business of property investing to make money so you do need to take responsibility of the running of it as a business. You need to treat the property manager as an extension of your business and ensure that there is good and frequent communication between both parties. Don’t do as I have heard being done, not make contact then 12 months later wonder why everything is not going as well as it should be. Insist on those reports and make sure that you are reading them and giving them the tick of approval.

Equity Investment: Benefits And Risks

Equity investment refers to a long-term stock investment strategy whereby profits are made through dividend payments and capital gains made on the equity of any particular stock in the market. Equity capital is the money that is gained by a company in exchange for a share of ownership in the company. It is a type of loan to the company which is sometimes paid back and sometimes not, by way of dividends paid out of the company profits or through the sale of the ownership rights. Though investing in the stock market can be extremely lucrative, it can also be risky at times. The equity investment market has produced remarkable profits over time and many experts expect the performance to be consistent even in the future. Equity investment ranges from common stocks, preferred stocks, real estate and any other forms of real estate.

Having an equity investment means that you are free to choose and pick with whom you want to invest your money. You can do your research regarding the company, and find out about how long the company has been into business, the profit that the company has made, their stock prices and many other things. Also when you begin to invest, what you can do is take some stocks that are of your interest and mark their price everyday. Repeat the same thing for the next four to five weeks. At the end of this period, you will come to know how your investment has performed. If over the period the stock has made some profit, you can go ahead and invest. It has been the latest buzz in equity investment. The companies that offer equity investment banking keep their clients updated about the performance of their portfolio through regular monitoring, performance analysis and consultation.

But between the profits, we should not forget that equity investments are subject to market risks. Equity investment banking should be handed over to a professional fund manager who has ample experience and knowledge in the field. You should not solicit advice in brevity, if you wish to invest. However, you need to keep in mind that you won’t be able to make money if you are not ready to take risks. Investment and risks are two sides of the same coin. However, as an investor, you should take only those risks that are related to the economy and the performance of the company. There are also some industry level risks which refer to the state of any current industry, company-level performance risks, governance norms, regulatory risks, etc. Therefore, you should read the offer documents carefully before you invest.

How to Save Time and Make Money by Outsourcing to Freelancers?

It has always been said that if you want to have a breakthrough in your business, you cannot afford to do the things as what others are doing. It is complete madness to expect different results when you are repeating the same process over and over again. Struggling small business owner, website owner or even individual always find it is so difficult to attract awareness or traffic to their products. They try to do the website development, product sourcing, marketing, back linking, SEO and more all by themselves just so that they can cut down on cost and investment. More often than not, this thinking usually backfire. Instead of generating enough revenue, owners are now troubled by low or no revenue.

Cost savings will not be able to do much for you if there is low or no revenue in the first place. This is a chicken and egg problem. In order to attract good crowds to your product or website, you will need a solid marketing plan, targeting the right niche and focusing on the acceptable pricing. All these will require a team effort. It is simply not possible to do it alone unless you happen to be talented in all aspect of business.

Therefore, it is essential to consider developing a system whereby you can outsource your task to freelancers who are professional in certain aspect of their work. Since these freelancers depend upon their reputation to get future new projects, they will put in more efforts to complete your task well. These freelancers know for sure that one bad review is enough to kill off their future chances of taking up good paying quality project. Thus, it is important to use a reputable freelancer portal to assign your project.

Some of the recommended task to outsource include areas that you are not familiar with and should not spend too much time working, such as web page designing. To engage a good freelancer, always consider the feedback that they receive from their previous completed projects. If you are engaging a new freelancer, always maintain constant communication to ensure that the projects are still progressing on the right path. The key to successful outsourcing eventually lies within the communication factor.

The areas to outsource depends upon the various factors such as duration that you will take to complete the same task, expertise level of yourself, priority of task and availability of freelancer with the right skill set. The business environment is getting more and more competitive nowadays. It is important for Business, Website owners, to be very nimble and respond to business challenges using the right expertise. With the technology advancement that we have through Internet, it is possible to tap on the global pool of talents at a very affordable rate.