Business: Look Past the Bottom Line for a Property's Investment Potential

Look Past the Bottom Line for a Property's Investment Potential

Written by Elaine Voncannon

Look Past repparttar

Bottom Line for a Property’s Potential

It’s unfortunate that many real estate investors tend to look at repparttar 104723 bottom line when deliberating about a property, rather than repparttar 104724 big picture. The real moneymakers in real estate investments are repparttar 104725 people with vision, who think creatively, and are willing to assume some level of risk. A client’s initial line of questioning about an investment property goes something like this: What has repparttar 104726 property’s revenue been for repparttar 104727 past three years? How much money will they make starting out? and, How much will they have to invest in repparttar 104728 property in repparttar 104729 beginning? These are all valid questions. After asking and answering them, investors might try taking off repparttar 104730 blinders and thinking outside of repparttar 104731 box. Our population is growing, and land -- unlike cars, furniture, or other structures -- cannot be remade. Real estate investors might ask themselves these simple questions: 1. Is there growth in repparttar 104732 area where repparttar 104733 property is located? Is there anywhere for repparttar 104734 growth to go? If so, is it headed towards your property’s location? 2.Has repparttar 104735 city or county zoned repparttar 104736 are for revitilization or economic development? If so, are there any special funds or benefits available? 3.Is repparttar 104737 property accessible to public transportation? 4.Are people beginning to look for homes in this area? If so, investors want to be looking far in advance of others to secure repparttar 104738 best property deals. 5.Is repparttar 104739 property value in repparttar 104740 neighborhood in a slump or an upswing? Purchase during a slump for maximum profits. The truth is, an investor not make a profit from repparttar 104741 property for repparttar 104742 first two years. Investment property owners should be looking at repparttar 104743 long-term, because they may make money over repparttar 104744 next 15 years, while others are not. Do your research, or hire a REALTOR who is motivated to do it correctly. Speak to neighbors to understand repparttar 104745 benefits of living there. Look at repparttar 104746 neighborhood surrounding repparttar 104747 area, and try to determine if those homes have increased in value. For a solid indicator, consider county property tax figures. In some areas you will find a slight increase in repparttar 104748 tax base of 1-3%. In other areas, like Williamsburg, Virginia, taxes have increased 15-13%. Tax base increases are linked to improved property value. If your investment property venture is a legitimate business, contact repparttar 104749 local Chamber of Commerce and county government to see if there are special funds available for revitalization projects. Most Chamber of Commerces provide such programs as well as classes where investors learn how to access these funds.

Work From Home and Make More Money

Written by Lorraine Pirihi

Why do you work from home? Hopefully you enjoy what you do and want to enjoy repparttar

lifestyle being at home can offer you, however is it because you want to make money so that you can have, be and do more in your life?

When you work from home you have so many advantages over many traditional businesses. You have more flexibility so when you do have to put in repparttar 104722 extra hours, at least you're at home and don't have to spend long hours off-site.

However, just because you work from home doesn't mean you shelter yourself from doing what any successful business owner would do. They recognise that their customers feed them.

Who pays you? Your clients do and never forget that. Unfortunately many people do. They take your money and then vanish off repparttar 104723 face of repparttar 104724 earth. And if you do hear from them you know they are only trying to sell something or business is not going well. The silly thing is, if you look after repparttar 104725 hand that feeds you, they will look after you.

Keep in regular contact with your clients, particularly repparttar 104726 top 20% (both current and past) who have provided you with repparttar 104727 most income.

Still keep in touch with repparttar 104728 others via newsletters etc. However repparttar 104729 top 20% of very special clients need extra attention.

A monthly "how's things?" call. Find out how life is treating them, without expecting to sell anything.

Send repparttar 104730 occasional gift …a book, tape, movie tickets. Thank them for their business. When special times of repparttar 104731 year occur send them a Christmas Hamper, New Year's Calendar, Easter eggs at Easter. Little things which show you care.

When you get referrals, reward repparttar 104732 referee with a thank you card or gift.

Do what most people in business don't do. You will be amazed that if you consistently (that is repparttar 104733 key word here) make repparttar 104734 extra effort, you will continue to get repeat business or more referrals.

My Story For repparttar 104735 past two years, I had engaged repparttar 104736 services of two separate property managers to look after our investment properties. The property manager of company no. 1 was never pro-active. The only time he spoke with me was when I initiated contact because I had a query or was unhappy about their services. Company no. 2 was exactly repparttar 104737 same except that they kept in touch via a newsletter which really was of no use to me as it didn't mention anything about property management. Mostly repparttar 104738 information was about properties being sold.

Cont'd on page 2 ==>