Showing posts with label Investment Property. Show all posts
Showing posts with label Investment Property. Show all posts

Sunday, December 23, 2018

Pests: Investing In Getting Rid Of Pests



Throughout most of our adult life, we've worked very hard for everything we have. At times, we didn't really put much thought into our decisions. Now, we are getting to a point in our lives when every decision we make has to be carefully planned and thought through extensively.

Investment


In today's highly competitive real estate market, locating, acquiring and maintaining an investment property is essential to being successful in the industry. With technology today, advertising our properties is as easy as taking pictures and pushing buttons on our mobile phones. If you take a quick look online, many will find an endless number of property listings for rent or for sale. 


Many take a look at pictures of the property, then read the location and amenities a property offers. The first thing that comes to mind when looking for an investment property is location and the age of the property. We then take a look at any nearby popular destinations and attractions that can be of suitable distance to the property. Now, we have carefully decided to invest in a property. 

We take a look around the unit and find that there is some renovating and cleaning up to do. You're thinking, "The property is located in an up and coming neighborhood, but the unit in the building is showing its age. Specifically, pests are a nuisance in a seasoned building. So what do I do?" Pest control is imperative in any type of investment property. Who do you turn to? Services such as https://www.moxieservices.com/can help with pest control.

Pest Control


Pests come in all shapes, sizes, and types. When investing in an aged property, we won't always know who previously resided there and how well they took care of the property. To name a few, pests like ants, mice, roaches, and spiders are most commonly found anywhere inside homes. 


If left untreated or uncontrolled, pest infestation can quickly invade the entire property. For instance, ants can wreak havoc. They deliver painful annoying bites that can leave red itchy bumps all over the skin. Investing in a professional pest control service has many benefits. 




It can prevent the devaluing of an asset, as it will keep your property free and clean of ants, mice, roaches and other pests. When potential tenants come to view the property, we will want to make sure the property is pristine. 

By contracting a pest control service monthly, it will ensure that potential tenants will see and know that we take care of our property. It is an investment that will keep giving back.

How Often


Certain pests cannot be avoided. The reason can be the local weather, the local area, or perhaps because of a neighbor. Regardless of the reason and where the pests are coming from, it is best to subscribe to a monthly pest control service. 


Some pesticides may seem effective at first, but the chemicals will slowly fade and the pests will come back again. By subscribing and hiring a monthly professional pest control service, it will keep the pests away while keeping your property clean and safe. These professionals can also give recommendations in preventive measures against pests. 

An experienced pest control service will be able to reach every nook and cranny of the property making sure no area was left untreated. It is also best to let them know if there are pets living in the property. We would want to avoid any harmful chemicals reaching them, making the property unsafe for pets.

Value


So we've decided to invest in a monthly pest control service. Now it is time to reap the rewards from our investment. Month to month, our tenants comment that they are very pleased with having a monthly pest control company come and visit to get rid of pests. 


They tell us, "I have recommended my friends and family to move here as well. We can see that you maintain your property well and keep our living spaces pristinely clean." We smile back and a call comes in, "Hello. I am calling today to inquire about renting a unit from you. I was referred by Nancy and John. They said that they highly recommend living there."


Monday, August 17, 2015

4 Things to Consider When Purchasing Your First Investment Property

Buying property, when done right, can pave the way to wealth and create financial freedom.

Whether you’re a first timer or a seasoned investor looking to diversify your portfolio to include property careful, strategic planning is vital to your success.

Here are some of the biggest things you need to consider before diving in to buying an investment property.



Can you really afford to invest?


Before the hunt for property even begins you need to work out how much you can afford to invest and more importantly, how much the bank will lend you.

Seek out a certified financial planner or accountant, to get the most accurate understanding of what you can afford. They’ll conduct a cash flow analysis and crunch the numbers so you can base your decisions and strategy on hard data.

There are several hidden costs to factor in when buying property, which include: financial advice fees, legal fees, building inspections, insurance and ongoing maintenance and repair costs.

Think long term


Smart investors know property investment won’t make them rich overnight. It’s a long term game.

Take one of the most successful investors, Warren Buffett for example, who says: “If you don’t feel comfortable owning something for 10 years, then don’t own it for 10 minutes.”

Get the right advice and outline the best investment strategy


Don’t be afraid to turn to the experts for help. A solid investment strategy needs to be based on data, tailored to your specific financial circumstances. Ask yourself, “Why do I want to invest in property”. 

Finding the right investment strategy for you is really a question of risk versus return. How much risk do you need to take to get a defined outcome? Having a clearly outlining goal of what you are aiming to achieve will go a long way to understanding exactly how much risk you need to take to get there. 

 When speaking about risk, we mean debt levels, tax structures, location and type of asset. Speak to your financial advisor about your risk tolerance. The support of good financial advisors will make you a confident investor, save you time trying to learn and understand technical jargon and help you to avoid making costly mistakes. 

How do you find advisers you can trust? Shop around, meet with a few different advisors and always check their certifications.


Find a mentor


Educate yourself on what it takes to be a successful property investor. Find one of those who have succeeded in property investment and are willing to share their secrets to success through blogs, online community forums, published books and articles. Scour the internet for invaluable knowledge and tips from these mentors.

Treat your investment like a business. When selecting the right investment property to buy take your time to do the research. Gather as much data as possible on the area’s overall growth, housing market, job market and rental demand. 

When inspecting potential properties to buy, don’t get emotionally attached to a particular property, buy with your head. You are not looking to buy your dream home. The property needs to be structurally sound, clean, tidy and well maintained to attract tenants. Speak to family and friends who have invested in property about their experiences. 



Gaining insight knowledge from advisors and mentors can help you identify the best locations and types of property to invest in. Approach your property investment venture as you would entering into a business. It requires a detailed, well thought out plan, strategy and commitment in order to manage it properly and successfully generate income.

For more advice on property investment, visit www.otiumgroup.com.au and download the Ultimate guide to property investing.



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