This is a common question for people who are interested in property investing for the first time. When you first begin real estate investing, you may not realize all the services you will need to streamline the process. Here are some of the areas where you may need assistance:
Frequently new investors have questions about acquiring a property. They may have one in mind already, or they might be looking for new investment opportunities. But finding a property is only the beginning - you will then need to make an offer, go through the escrow process, inspect the property, etc. All these steps take time and involve paperwork and red tape that many investors don't have time for. As a result, you might consider engaging with a property management firm like NREMG that can handle some of these tasks for you.
If you plan to acquire multiple properties, a well-thought-out strategy for investments is essential. At NREMG, we like to ensure our clients have a balanced portfolio. We consider how each potential property fits with the rest of the client's investments, as well as their budget and time concerns.
Building your own property or buying and renovating one are also options for real estate investing. Some clients even specialize in restoring older properties or building certain kinds of developments. When you're working on any kind of construction project, you want to concentrate on your goal - a finished project.
Unfortunately, legal issues, permits, paperwork, and other clerical issues get in the way of many investors. You may have heard about projects that were held up for months over a disagreement with the local government, an inability to secure a permit, a dispute with neighbors, difficulties with contractors, etc. Hiring a licensed and insured construction firm can help you in several ways:
Once you've secured a property, what comes next? Managing one or more properties is also time-consuming - even one task, like finding and vetting tenants, can take up a large chunk of time. If you have other responsibilities or don't live close to the property you own, managing it yourself may not be feasible.
That's where a property management firm like NREMG comes in. We will manage as many properties as you own, and you won't need to hire a separate property manager for each site. Property management covers a wide range of duties, many of them ongoing. These include:
Becoming a first-time real estate investor is an exciting process, and we know you have many questions. If you'd like to learn more about property management, real estate investing, real estate brokerage, or related issues, please contact NREMG for a free consultation.