Why You Should Talk to a Professional Property Manager in Charlotte, NC Before Investing

Making a real estate investment in North Carolina is a great idea right now, and before you choose a property, make sure you talk to someone doing professional property management in Charlotte, NC. Over the last few years, hedge funds and investment firms have bought a number of homes in the local market because they are so undervalued.

Before You Buy: Property Management Help

Most investors contact a property management firm after they’ve purchased a property because they’ll want someone to manage it. If you contact a property manager before you buy, you’ll be in an even better position to earn more money from your investment. Property managers can help you with information on the location that interests you. You’ll get an idea of how much rent you can bring in, what the turnover and vacancy rates will be, and how strong the tenant pool is.

Agents and Managers: Different Skills Sets

A real estate agent will help you negotiate the purchase and close the deal, but you’ll also need property management advice. The way a home performs on the rental market is much different from how it performs on the sales market. A sales agent won’t have an accurate understanding of what the rental market will bear in terms of price or what kinds of things tenants will be looking for in rental properties.

Property managers will also recommend repair work and updates that may need to be made to the house. You probably won’t want to buy something that requires a complete renovation, but a few inexpensive things can make a difference in getting the property ready for the rental market. You’ll need to know which upgrades are worth the investment; stainless steel appliances are probably not necessary in a foreclosed property that sits in a working-class neighborhood where tenants are more concerned with schools, yards, and space.

Partnering with Property Managers

When you start working with a property manager before you even buy the home, that partnership creates mutual respect and accountability. Your manager can get to know the home before you even start looking for tenants, and it will be prepared and leased a lot faster. Your property manager knows the local neighborhoods and where the best tenants can be found. That’s going to help you earn more money on your investment and have a more successful experience as a real estate investor.

If you have any questions during your investment cycle, please contact Alarca Property Management.

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