December 2, 2022

What Support Services Do You Need as A Real Estate Investor?


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:

Property Acquisition

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.

Investment Strategy Development

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.

Construction Management and Renovation

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:

  • We'll take care of securing the necessary permits and paperwork so you don't have to. This is a huge relief for many of our clients who are busy professionals and don't have time to handle these tasks on their own.
  • Our legal team is experienced in handling issues related to building or renovating and will work to prevent disputes or other disruptions to your plans.
  • We can also take care of hiring and vetting subcontractors and addressing any difficulties that occur.
  • We warranty our work and work closely with our property management team and clients to ensure the job is done to the quality standards they expect of us.

Property Management Services

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:

  • Ensuring the property meets all codes and regulations for a rental property, and that you have appropriate insurance for the situation. If repairs need to be made, we will get these done so the property is ready.
  • Finding and vetting your tenants. Our experts will advertise, targeting potential renters whose budget aligns with your monthly rent. Additionally, we use a thorough application and screening process, including background checks and following up with references.
  • Working with your tenants. Once we've found the right tenant, we'll prevent a wide range of potential issues by providing them with a well-crafted rental contract. Created by our expert legal team, our rental contracts are detailed and cover a large variety of situations, so neither you nor your tenants have any surprises later on. Using a well-written contract can help head off many potential legal disputes caused by unclear contracts or clauses.
  • Continuing communications. After the contracts are signed and your tenant moves in, there is still work to be done. We will handle communications with the clients such as complaints, repair requests, neighbor disputes, and other issues. Additionally, we'll stay on top of regular maintenance to avert complaints or difficulties.
  • Collecting rent and handling associated situations. Our automated systems make it easy for tenants to pay their rent online. You won't have to worry about hounding anyone for the rent check - our system flags any discrepancies, and our staff will follow up politely with any tenants who are late with rent. If the problem becomes chronic and an eviction may be necessary, our legal team will handle the process.

Learn More About Real Estate Investing Today!

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.