As a licensed Arizona real estate agent and a somewhat savvy investor, I
have viewed the current real estate market with a great deal of interest.
The real estate market has been battered in recent months for a variety of
reasons. Mostly though by a rampant number of lender bankruptcies / closures
and an ever increasing new home inventory. Although a market like this is a
bane to some, it can be a boon for others (myself included).
A struggling market presents many opportunities for investment buys due to
foreclosures and people needing to sell to get out from under a monstrous
mortgage payment. Typically, if the home sales market drops, the rental
market increases. It makes sense, doesn’t it, to assume that these people
have to live somewhere and they can no longer afford to buy a home.
There are numerous ways to buy these distressed homes for purposes of rental
and I won’t get into that because most investors already have their ways.
The problem occurs when the newly purchased investment is put on the rental
market. Generally speaking, the use of a property management company is
needed to tend to the investment since many investors do not reside in the
same area as the investment. However, most property managers require $300
to $600 initial fee and 8% to 10% of the monthly income. In some cases,
these costs put my investment in the red.
Although I am a real estate agent, I have absolutely no desire to be a
property manager. Additionally, I do not have the knowledge or desire to
learn the complex issues involved in the rules and regulations of the
Arizona Landlord / Tenant Act. That creates a whole new can of worms for
me. There is, however, a solution for people like myself.
After much searching, I found a company that offers ala carte landlord
services for a fraction of the cost of a full service property manager. So
far, they only work in the Phoenix area but that is the location of my
investment properties and it has added money to my pocket. It is called the
Cirre Consulting, LLC and information regarding the services of this company can be
found at www.go4cashflow.com.
After all, to an investor, the name of the game is making money and every
penny counts!
Gene Ochrymowich
Focus Real Estate and Investments
geneochrymowich@msn.com
