When you’re ready to increase the size of your Brentwood investment portfolio, the first step should be to reach out to a property manager. There is a lot of expertise you can leverage when you partner with an experienced management company. At Parks Property Management, for example, we know the market and we understand the needs of investors who are looking to grow.
Smart investors know that they have to be thinking about long term and short term goals. If you don’t have established goals and a clear strategy for achieving those goals, you’re not going to know how to look for the right opportunities and where you should buy your next rental home. Property managers can help you focus on where you should put your energy and your resources.
Brentwood Property Managers Help with Acquisitions
As a real estate investor, you need to know when to buy and what to buy. You also need to know where you should be looking. A good property manager will recommend that you always stay prepared. You never know when that next great opportunity will show up. The market’s strength will play into how you structure and negotiate your deal, but it’s always a good time to invest in Brentwood real estate.
A good property management team can help you identify those potential acquisitions that meet all of your investment criteria. When you or one of your partners finds a property that meets your investment goals and complements your existing portfolio, take the necessary steps to buy it. As you leverage your buying power, you’ll find you can acquire a lot more properties. We’ll help with that.
Think Like an Investor with the Help of Property Management
To successfully increase the size of your investment portfolio, you don’t want to snatch up every property you can find. Instead, you want to be intentional and buy the right properties.
Local Brentwood property managers understand the market and the tenant pool. We know what tenants will be looking for and what they want to rent. We know how much they’ll be willing to pay. That’s going to help you make decisions when you’re adding rental homes to your portfolio.
Look at every potential acquisition from the standpoint of a renter. Make sure you’ll be able to charge the amount of rent you need to ensure the investment makes sense. Consider your expenses; will a lot of work be needed?
Increase your Rental Portfolio with a 1031 Exchange
A great way to leverage the investment properties you already have is with a 1031 exchange. Under this program, you can sell one property and then defer the capital gains taxes on it by investing the proceeds into another property (or several properties) that are similar. The word similar in this case only means that it has to be another income producing property.
This is a great way to unload an investment that may not be performing the way you want it to. Or, you can increase the size and strength of your portfolio by selling one single-family home, for example, and buying a couple of duplexes. There are a lot of options.
The best strategy for growing your investment portfolio is to maximize what you earn on the Brentwood rental properties you currently own. We recommend you settle in for the long term and hold onto your assets until they no longer serve your investment goals. Buy some great, high-quality properties with excellent earning potential and hold onto them. You’ll earn more cash flow and you’ll increase the returns you earn in the long term. Then, we can help you add new properties to your portfolio for ultimate growth and better earnings.
Contact us at Parks Property Management for more information.