By Janet Fetterman, Broker Associate, CAM

With banks offering very low interest rates these days, many people are investing in real estate property long term. This strategy involves researching potential investment properties that will produce a better return on your money to yield a profit.

Investors make money on an investment property in three ways:

1. Cash Flow
2. Appreciation
3. Tax Advantages

Eagles Landing Property at Golden Ocala

Having a Good Team is Vital

Any person who is serious about real estate investing will create a team to evaluate properties as investments. This team will be comprised, but not limited to, the following professionals:

1. Realtor® – An agent to stay abreast of market and hidden market opportunities. Be prepared to fund searches for specialized property requests because what you wish to invest in may not be readily available and on the market through the local MLS.
2. Tax Accountant – This is the professional who will best advise you for maximum advantages on how to structure and run the investing enterprise entity. The accountant will advise you so you pay the least amount of taxes for the endeavor. The accountant may be relied on to read and evaluate the financials of associations along with their budgets. They also point out anticipated future problems and concerns regarding real estate properties.
3. Real Estate Attorney – The attorney reviews contracts, covenants and restrictions, as well as oversees the investing enterprise entity’s corporate structure.
4. Home Inspector – The Home Inspector will inspect and evaluate the subject property’s condition and project future repairs.
5. Construction Expert/Builder – They will evaluate costs of renovations and repairs which factors into your bottom line profitability. Please remember to remunerate this professional for their time.
6. Insurance Agent – These agents advise you on proper policy placement and coverage for the subject investment reducing your risk for hazards and loss.
7. Property Management Professionals – These professionals inspect, manage, order repairs and ongoing maintenance. They also rent the unit, collect rents and perform evictions for non-paying tenants.

Good communications between you and each of these team members is vital. You must have clear cut goals and objectives defined for each of them so they know how to best serve your interests.

Why Having Fewer Clients May Be Better

Your loyalty and business is also important in getting the best service. In the service industry, having fewer clients who do volumes of business with your firm is a better business model than having hundreds of clients who do spotty transactions here and there. These professionals need to become an expert in your needs and objectives so they can better provide you with quality service, time and information.

Inside Eagles Landing Property at Golden Ocala

At Golden Ocala, we have a new property, Eagles Landing, which many are evaluating to determine if these units meet the goals and objectives of their real estate portfolio. Give us a call today at 352-369-6969 so we may share this opportunity for your review and consideration.

For more information on Real Estate at Golden Ocala, visit our blog.