This is an excellent time for real estate investors to be thinking about growing their investment portfolios. Whether you want to maximize what you can earn with the properties you already own or you’re interested in acquiring new properties to grow your portfolio, a Santa Rosa property management team can be invaluable as you increase the size and strength of your real estate portfolio.
Here’s how such a partnership can help.
Property Managers Understand the Santa Rosa Rental Market
Market knowledge and expertise is really where it starts. If you want to increase your investment portfolio, you either have to add more rental properties or you have to leverage the properties that you currently own. A property manager’s deep understanding of the local rental market can serve both those strategies.
A Santa Rosa property manager will understand rental values and market trends. We’ll be able to tell you what sorts of upgrades and updates to your existing portfolio will allow you to earn more ROI. We’ll know what tenants are looking for and why your property may not be renting.
For out-of-state investors, this experience is even more important. Perhaps you’re an investor who lives elsewhere and you’re thinking about buying a property here. You’ll need someone with local knowledge to help you identify a high-performing investment.
Property Managers Can Help with Networking
In many ways, real estate is a relationship business. Property management – even more so.
This is how a property management partnership can help you identify the opportunities that will allow you to grow your current real estate investment portfolio.
As property managers, we are in touch with brokers, real estate agents, developers, and sellers. We do business with these circles every day. When we know you’re looking for a single-family home in a particular price range, for example, we’ll be able to alert you when we find out something has become available. We can help with referrals, introductions, and relationships.
Smart investors know that they won’t increase their portfolios all alone. Networking is important. Professional relationships are important. We can make sure you’re plugged into the local networks that will help you succeed.
Property Managers Understand Smart Growth
Acquiring new properties is one way to increase your portfolio, and property managers can help with that. But, it’s not the only way to increase your portfolio and grow your business.
You can also increase the value of the properties you currently own. This might mean some cost-effective renovations or a new approach to landscaping. We can talk to you about leveraging the equity you currently have in some of your properties to make a new purchase.
There’s also the 1031 exchange, which we can help facilitate. When you sell a Santa Rosa investment property and you want to protect yourself from capital gains taxes while still growing your assets, a 1031 exchange might be the best thing for you. It saves you money by deferring those taxes and it opens you up to new opportunities.
When you’re evaluating your investment goals and ready to increase the value of your portfolio, talk to us. We’d be happy to show you how Santa Rosa property management can help you with your specific goals. Contact us at Redwood Residential.