Rental Property and Expanded Services Can Generate Large Profits
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In my last write-up, I discussed how 2008 will be a wonderful opportunity to buy rental property from motivated landlords with negative money flow properties. ?As property managers, we can leverage our personal rental properties and expand our services to generate massive profits for our company.
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Property managers have a large benefit in being able to buy a property below marketplace and recognize 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 professionals can use rental property to generate enterprise income.
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I leverage my personal rental properties to generate enterprise revenue for my businesses. We offer maintenance and repair services, sales, leasing, property management, and mortgage services. ?Our goal is to generate as significantly revenue per client as achievable. ?We provide a one stop shop for our clients and marketplace to buyers, builders, Realtors, sellers, investors, and tenants. What much better client to leverage our services to than tenants renting homes that I own.
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We assist tenants in repairing their credit, obtaining a mortgage, representing them as a buyer?s agent, and utilizing our in home maintenance firm to support them fix up the property or make any needed repairs. We provide incremental savings with every additional service they select. For example, if the tenant uses 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 businesses. We earn incremental organization and potentially save tenants thousands of dollars. Not only are tenants happy to utilize our services, but they refer enterprise to us as well. Our state needs that we disclose a several role form when offering real estate and mortgage services.
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In our market, there is a large demand for house buyers who just sold their property and require a place to park whilst they create a new home. Few property managers provide lease terms much less than six month, simply because 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 give short term leases for their clients and clients. In return, I ask them to refer my company future property management organization. We will refer the owner back to the Realtor if they choose to sell the property in the future. This makes the sales transaction go very smoothly, and Realtors are thankful for us providing this service.
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Our maintenance company specializes in getting properties ready for sale and lease. We do tiny and big projects. We marketplace our maintenance and repair services to homeowners and Realtors. Most Realtors do not have relationships with maintenance vendors. We provide dependable services at inexpensive rates. Our handymen are full time employees, and we provide organization transportation. Our maintenance business can take care of most inspection repair items, and we can assist Realtors in getting their client?s property ready for sale.?
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The much more properties you own, the much more you can leverage your services to generate enterprise income. I encourage property managers to take advantage of near record low interest rates and buy as numerous rental properties as possible. Contemplate expanding your service offerings. Mortgage services are really profitable and need little capital to get licensed. Several states call for only a couple of classes to obtain your loan officer license, and you may possibly be able to get real estate MC E credits with the completed classes. Think about subleasing some of your office space with a mortgage broker who will pay you rent and sponsor you as a loan officer. Offering maintenance and repair services can generate future real estate clients. A homeowner needing painting services may well be in the market to lease or sell their property.? Expanding your service offerings and levering your personal rental properties and can give a limitless return on your investment.
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In my next article, I will talk about how property managers can take advantage of tax loopholes only accessible to licensed real estate agents.
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