When you’re looking to buy an investment property, I recommend that you begin interviewing for your property manager as early as possible – perhaps even before you put an offer on your property!
It may sound a little strange, but there is a method to my madness.
You see, property managers can be an invaluable source of information regarding what tenants really want.
They are chatting with renters day-in, day-out so they know exactly what features and amenities are in highest demand with local tenants.
So doesn’t it make sense to tap into their knowledge, to make sure you’re investing in the right type of property – one that tenants will actually be lining up to rent from you?
That’s why I always chat to local property managers before I settle on the property I’m thinking of buying, to clarify exactly what do tenants want?
I ask the property manager a number of questions, including:
How many bedrooms and bathrooms are tenants looking for?
Do they prefer courtyards, backyards or no yards?
Are old, new, or renovated homes renting quickest?
How long are the average lease periods?
What demographics typically rent in this area?
What types of tenants rent here – is it families, singles, students, or couples?
What specific property features do tenants look for?
You can use this information to help you decide exactly which property you’d like to invest in.
Then, if you’re buying an untenanted property, it’s always a good idea to get the ball rolling on finding and screening tenants before your purchase has settled.
After all, if you wait until you take formal ownership of the property to look for tenants, it could sit empty for two or three weeks without generating any rental income.
The last thing you want is to end up with a house or apartment that no one wants to live in – and by liaising with experienced local property managers, you’ll have the best chance of avoiding a “rental lemon”.
If you’d love a ‘clear direction’ in growing your property portfolio…so you feel confident and in control…
If you would like to have a clear written plan to reach your specific financial goals over the next 5-10 years…
And, if you want to ‘speed things up’ so you can reach your financial goals much quicker….
Then your next best step is to book a Property Action Call, with one of my personally trained coaches…
In your property action call you will…
Discover how you could ‘tailor’ my ‘10 properties in 10 years™’ investing system…to your personal situation
Get a clear ‘snapshot’ of where you are now financially…so you feel clarity and confidence moving forward in leaps and bounds
Discover property investing mistakes that you may be making…that are hidden from your view.
I value this call at $295. But it’s yours free because I want to ‘jump-start’ your investing.
The only catch is there are currently only a handful of spots available in the coming week…and they will go quick.