What should you expect from an investment group or so-called guru the has all the answers to your real estate investment needs. I was reading a ad from a so-called guru that was selling a home in an area that was very risky at best. The area is not stable and the rents are not consistent because of the low income area. He advertised it as if it was finished and ready to cash flow for the rest your life. There's a few things he's really missed the boat on and I want to go over that in this blog post. The home was only $43,700 but was it worth it?
In every house you need a detailed list of all the items that either updated or replaced, this could include the electrical panels, heaters, driveways, flooring, paint, Windows the list goes on and on. You need to know for sure that those items are updated finished. If your out of state you should prefer the real estate guru send you a video from start to finish on that property. Let me give you an example of how I do it click on this link and you will see that we get weekly updates and have before-and-after pictures and videos of each properties. This again is full disclosure that everything is getting finished. I would not take the word of anyone who said that the property looks great. If it does why is there no pictures or video of the whole remodel process. In this day and age it is very important to know what was done to your property in order for you to make a sound decision on that real estate investment. Pictures and video are easy to do. I personally have a whole website dedicated to it Rooftopvideo.com
They also failed to point out the fact that the property manager is good or bad? How long they worked with the real estate investment Advisor? How much they know about them in any other pertinent information that is needed for you to make a sound decision. I would love to see the property management agreement before purchasing any property. I would also want to check out the property manager to make sure that they have both the quality and size to take care of your investment. I know our property management that works directly with us (we have two property management companies that work with our clients ). We meet with them weekly to get all the facts and figures of our investors portfolios including ours.
So you're looking at a property in it looks like a great and it might be a great deal, you need to know all the facts and see all facts through video or pictures. If you have a real estate group that does not have that type information you might want to start looking for another investment group. There is nothing wrong with a investor asking for information that is pertinent to that property.
So in summary I would always want the cash flow analysis, detailed list of repairs, property management agreement, how many units as a property management managed now, any references you could ask for for that management company and the company you're wanting to invest with. So as an investor it's all right to ask questions and get answers because you work hard for your money and you need to understand what type Real Estate Investment you're getting into. Most people want great cash flow properties and monthly checks and there are a lot of companies to get that done. So do your homework and enjoy your investment. Brett young Valley Realty Rooftopinvetment.com
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