Whether you’re buying your first investment property or you have an entire portfolio that is still growing, you need to surround yourself with professionals in order to be successful. A smart investor will have access to attorneys, accountants, brokers, and managers. If you’re wondering whether to talk to a real estate agent or a property manager in Tyler, there’s good news – you don’t have to choose. Talk to both of them. Each professional will bring extensive and local knowledge to your investment, and help you plan for both the long term and the short term.
Realtors and property managers each bring something new to the table when you’re investing in the local real estate market. When you work with both of them, you get a wider view of the investment you’re about to make and what you can expect from it.
Real Estate Agent Benefits
A licensed Realtor can help you locate opportunities and negotiate deals. They understand the local sales market and they have experience understanding what properties are worth and how long they have been on the market. You’ll get a wealth of knowledge and talent when it comes to negotiating purchase price and purchase terms.
Your real estate agent will also have an entire inventory of potential homes to show you. If you see one property and you like a few things but you’re not crazy about some of its other features, your agent can find something that better suits your needs. Count on your Realtor to help you find a home in your price range that helps you achieve your investment goals.
Property Manager Benefits
Just as sales agents understand the sales market, a property manager will understand the local rental market. This is an important part of buying an investment property. When you’re buying a home that you plan to live in, you are going to think about different things than you’ll think about when you’re buying a rental home. Your property manager can help you stay focused on the things that are important to your rental income, your ROI, and the future tenants that you hope to attract.
With a trained eye, your property manager can help with inspections, transactions, and estimates about rental income and maintenance costs. Before you commit to purchasing a property, your manager can help you understand how long it may be on the market, what types of tenants will want to rent it, and how much you can expect to earn and spend.
At CrossPointe Management Group, all of our property managers are also licensed agents. That’s a huge asset to investors who are looking for the best possible opportunity while needing property management advice. We can provide double vision, and help you with everything from identifying investment opportunities to preparing the home for the rental market and managing your tenants and your maintenance needs.
We are local Tyler property management specialists, and we’d love to share our tools and resources, as well as our extensive knowledge. Please contact us at CrossPointe Management Group to learn more.