From an increase in existing–home sales to the gains of Warren Buffett’s Berkshire Hathaway, Inc., multiple reports show encouraging signs of growth and stability in the housing market. In a popular article in Fortune, many investment firms are adopting a new strategy while the costs of entry are still low: bulk purchases of single-unit homes to rent now and sell down the road when the market fully recovers.
Experienced Property Management
Simply making that investment is no guarantee of success. Beyond the costs of taxes, remodeling, and upkeep, every month a property sits vacant – unsold or unrented – is a loss on what return you could be making. That is where an experienced property manager comes in. With on-the-ground knowledge of their territory, including which property types and locations are best-suited for rentals and how to attract renters, a good relationship with a professional agency can help ensure your investments are generating revenue and working for you, especially if you are attempting to juggle a large number of properties.
Indeed, as Fortune and Goldman Sachs note, many firms aren’t looking to sell high necessarily – it is the rent they are interested in. After expenses, the profits you draw in each month may be small, but they add up in the long run – so much so that your property may pay for itself over time.
That is why if you’re interested in real estate investment in Jacksonville, you should come to Traditions Realty. As a full-service agency, we work with you every step of the way, providing local expertise and handling the day-to-day business so you don’t have to.