Investors can improve their chances at success by working closely with a team of experts— which includes lenders and property managers, among others. When these parties are all in proper alignment, there’s little they can’t accomplish.
In fact, when property owners take the initiative, good things are bound to happen. So here are some ways you can help keep your investment property running smoothly.
5 Ways Investors Can Help their Investment Succeed
Be Truthful and Trusting
Honesty: it’s the bedrock of any relationship. As a real estate investment firm, we need an accurate, thorough accounting of your financials for lending purposes. We understand that no one’s financial history is perfect, but you need to tell your lender all necessary financials in order to better serve you.
Besides the trust needed for this, also know that we are looking out for your best interests. While handing over the reigns of control is never easy, knowing that their success depends on yours makes doing so easier. Remember, lenders genuinely want to see your loan go through, not just gain a quick buck!
Set Realistic Expectations
While everyone wants high-yields, they aren’t the only barometer for gauging success. Others include generating greater amounts of monthly cash flow and obtaining (substantial long-term) appreciation on properties.
So don’t look at generating high yields as the only way to succeed. Instead, set the types of goals that relate to what you, specifically, are trying to achieve.
Remember too, that the real estate investing process can take longer than originally expected— and is dependent on factors like funding, availability, and rehab. So be prepared for hold-ups, exercise patience, and understand that here the old adage rings true: “good things take time!”
Make Yourself Available
When it comes to acquiring and maintaining investment properties, it’s important that you— as the investor— make yourself available to your team. In other words, give them 24/7 access through your home phone, cell, and email.
At HomeUnion, it’s very important that we have access to our clients; because as much as we strive to make the investing process hands-off, we do require signatures and paperwork (especially when it comes to closing on a new property).
With so many properties in competitive markets that move quickly, it’s in your best interest to stay in close contact; this ensures your ability to close on the property(ies) you desire most. By giving us an array of contact info (email, cell/ home phone numbers) and responding promptly, the process runs much more smoothly.
It’s no exaggeration to state that solid investment properties are flying off the shelves (or lots)— especially in hot markets like Charlotte and Austin; so have the paperwork needed to close your loan ready to go by preparing yourself accordingly.
You should always ask lenders, property managers, and your team in general for clarification whenever you have questions regarding key information or concepts. At HomeUnion, we welcome this approach, since we want our investors to feel at ease. So if you have questions, just ask!
Now Let’s Get Started
Get started on your investing journey by calling the Solution Managers at HomeUnion today at 888-276-0232 or by scheduling a consultation. We’ll start your portfolio-building process right away— because why should your investing success have to wait?