Almost every guru in the real estate business tries to teach how to get great properties that pay you income. They have courses that cost big money to tell you their secrets how they make money doing real estate.
What most of the courses don't teach you is keeping the income going for the life of your investment. The better the area the better the income. Why is that? It is because nicer areas attract better tenants and more of them want to be long term tenants.
Just this week a couple rented a $1350 home, because their kids wanted to go to a certain school. Families want nice areas to raise their families in and school is a big part of it.
After that it is all about property management and keeping a property producing income. When you have nice real estate, you also need a property management that knows how to take care of your precious investment.
That is the key to the overall success of your real estate portfolio. Let's face it if you are making good money on your real estate then you will purchase more property. That is why you need great management for the life of your portfolio.
How do you find that great property management company that you can count on to handle all the needs of your property? That is the key question that most people cannot get answers for.
I can only speak for my company call Avalon Real Estate Group. My wife is the broker and we pride ourselves in getting our clients the most income in the business.
I am always talking to potential clients that have had the wrong management and are tired of not getting their real estate handled.
Lastly buy property that will go up in equity most likely. Real Estate in bad areas is not a good investment. People make a lot of money selling the real estate and you lose a ton buying it. Get property that are in nice areas and have a positive trend upwards in equity.
We received a portfolio recently that had many vacancies and tenants not paying rent. In a few months the 6 properties we decided to keep are leased. The properties that where not good have been sold and the investor is making great money!
The key to being a rich landlord is really three parts. Buying nice real estate, getting great management and selling it when you are ready for substantial profit!
Need more information call me I'm Brett 216-703-5740 Icon Agent at EXP Realty
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Thank you