Mooresville, NC, November 16, 2009 --(PR.com
)-- Get Real, The Real Estate Investing Show for the Rest of Us, spoke with Mark Walters of MW Properties about the importance of proper property management. Mark has built his business in the last four years to manage over 400 properties. None of his current rentals have been vacant for more than 2 months, well below the national average for real estate investing property vacancy rates.
Mr. Walters explained on the show that there are some key ways to ensure that real estate investor’s properties are managed correctly and reduce vacancies.
• Prepare your properties to rent ready condition to the point you would want to live there
• Make sure that everything is working correctly including smoke detectors and lighting
• Have a property manager that works through referrals to acquire good tenants
• Find a property manager that markets through sources other than free advertising
Mark also shared some tips for finding the right property manager for real estate investors, these included...
• Always find your property manager through referrals
• Go to your local real estate investor club and ask who is the best
• Find out what your property manager’s area of expertise is and make sure they outsource the rest
• Ask if your property manager has an inspection system for reviewing tenants and the upkeep of your properties
• Make sure your property manager invests in technology to manage cash flow items such as your rents and repair costs, real estate investors should be given a monthly statement with all of the inflows and outflows for their properties
You may find out more about proper property management for real estate investors and other real estate investing related items at http://real-estate-investing-club.com To listen to this episode from your iPhone or iPod touch and to get extra bonus video and instructional information you may purchase the Get Real iPhone app by visiting http://bit.ly/4xKIjD
Get Real is a top iTunes business podcast that can be heard at www.getrealrei.com, through a news reader at http://feeds.feedburner.com/GetrealREI or subscribe on iTunes at itpc://feeds.feedburner.com/getrealrei Get Real provides a down-to-earth, real world view of real estate investing for current and future real estate entrepreneurs.