Does your Los Angeles property manager have other real estate knowledge or just management knowledge?
Note buying, flipping, wholesaling, working as a realtor, seller financing, lease backs, buy and holds, etc, etc. There are so many facets of real estate. Knowing and mastering 2 – 3 facets of real estate is a good sign of a well rounded, experienced real estate professional. Make sure your Los Angeles property management person you deal with on a day to day basis knows more than just management.
Why your Los Angeles property management should know more than just management…
Los Angeles property management personnel SHOULD have more knowledge than just management. Why? Because, this shows your Los Angeles property management person isn’t new to the business. 2. It shows that your Los Angeles property management manager is a well rounded real estate professional.
Think about it this way, would you want to hire an investment banker to help manage your cash assets if he only knew ONE single avenue of investing? Chances are, no. If you said yes, you might be thinking: “well that means this person specializes in one thing and knows the ins and outs.” I see where you are coming from. But in reality, to master one thing you have to be in that specific field for years. Simply being in a specific field for years will teach you many other facets of your industry. It’s impossible to be in an industry for 5 – 10 years and never learn any of the other facets.
What I am getting at is: if your Los Angeles property management personnel has been in the real estate business for at least 5 years, it’s impossible for them to not know many other facets of real estate simply JUST being in the business. Unless your Los Angeles property management person you hired is a complete idiot, chances are they are simply unexperienced and new to the business!
Benefits of having Los Angeles property management who is experienced and is well rounded in the real estate field.
- If your Los Angeles property management is well rounded, they will be able to advise you better on all real estate matters.
- If your manager knows many facets of the real estate industry you will be able to bounce ideas off of them for exit strategies, ways to increase your ROI, what to do with idle cash, etc.
- Most clients TGN Property Management gets are new to the landlord world. Having a Los Angeles property manager that can guide new owners and help them learn is ideal.
- Los Angeles property management with experience can reduce risk and liability for property owners.
- Los Angeles property management who has been through a real estate crash and a real estate boom knows what to do in both of these markets.
If the market crashes again over night like it did in 2008, wouldn’t you rather have a Los Angeles property management company that KNOWS the best ways to move forward? What if the market crashes and you end up underwater? You call your Los Angeles property management company and they say “I don’t know what to do!”
It’s not a Los Angeles property management company’s responsibility to be knowledgeable in all facets of real estate; There are no requires from the BRE on this. But how valuable would that be for an owner if they are well rounded?
The moral of the story is, before hiring Los Angeles property management, ask them a few questions on their background. TGN Property Management started off flipping houses in Compton, Watts and South Central LA. We torn down, rehabbed, remodeled, additions and any other thing you can do to a house. We dealt with building codes, permits, inspectors, etc. We wholesaled hundreds of properties and have literally 1,000 agents that we work with. We purchased notes, purchased buy and holds and of course management rentals through this whole process. TGN Property Management is extremely well rounded and know how to make money in an up market and a down market. Need advice? Call today! 310 623 2704.
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