Welcome to Week 19 – in which Chris explains why Relationships are Key to Success in Your Market
You must be crystal clear on the specifics of the market in which you’re operating. If you can identify your target customers and service them profitably, you will be successful. It is vital to have a thorough understanding of what your tenant is looking for, and what they can afford before you invest.
Stakeholders to Consider
Beyond your tenants, other groups can impact your cash flow and also help you when you need them – we mean local government agencies. They can be a nuisance at times, but most public servants have a job to do, and they do it well. It is also important to remember that the rules and regulations they are paid to enforce were at least initially designed to protect tenants and owners, as well as the community at large.
So Be a Good Neighbor!
Neighbors can make or break your investment. If you take care of your property and promptly take care of any problem tenants, you will be rewarded by good neighbors, and your house will be looked after and your asset protected.
Join us next week for a fireside chat about Insurance and Property Taxes! See you then!!
For a free copy of the full book, A Real Estate Investor’s Guide to Profitability, email FreeBook@ROOSTRealEstateCo.com and we will send you one. Or download a free e-book version here: MakeRealEstateWork.com/free-book