Should You Buy 1 Investment Property Per Year?

Are you an investor wondering how many properties you should buy and how fast? Buying one rental property per year is an investment strategy that several landlords follow. However, it’s important to make smart investing steps to get there.

Why Is Real Estate a Good Investment?
If you’re a seasoned investor you already know that investment properties are a great investment to generate long term wealth. But if you are new to investment property ownership you may be wondering why or how. It takes time, dedication, and capital to purchase and manage rental properties. That said, the benefits often make that all worth it.
For example, rental property investment can allow you to generate passive income and earn tax benefits. Plus, real estate offers a bit of stability compared to other investment strategies. Home prices may fluctuate, but not nearly as much as the stock market.
Now you may be wondering how to get started in buying one rental property investment per year, follow these steps.

Steps to Buying 1 investment Property Per Year
Buying one investment property per year is a strategy used by investors who want to gradually expand their portfolio of properties. When you buy too many properties at once, it can become overwhelming and too difficult to manage.
Here are some tips:
1. Focus on One Property Type (ex: single family homes)
2. Stick to Your Budget
3. Keep Track of Important Variables (extra costs)
4. Utilize Real Estate Tools to Find Properties

Is This Beneficial For Long-Term Wealth?
Buying one investment property per year can be an excellent strategy for any investor willing to put in the work. After all, once you buy the property, you become a landlord with several responsibilities. If you own several rental properties already and you need help managing them, contact the best property management company in DFW (All County Property Management Group).

Here are some of the benefits of buying one rental property per year.
• It’s Simple and Easy to Implement
• You Can Generate a Good Income
• It’s a Proven Way to Build Wealth
• You Can Handle Investment Loans More Efficiently

Maximize Your Business With Property Management
Investors with multiple rental properties are faced with several daily tasks to complete. Sometimes, there’s just not enough time in the day to get everything done. We are here to help! At All County Property Management Group, we help not only renters find their next home but also property investors looking for an experienced property management company to take over the hard work of property management. We offer up-to-date listings to suit a variety of needs and budgets. In addition, our dedicated leasing staff works with you every step of the way so you can feel confident in your home choice. Plus our team handles all property management needs from maintenance, leasing documents, marketing and much more! For more information or to see our available listings in your area, check us out today.

How to Estimate Investment Property Expenses

One of the biggest mistakes rental property investors can make is underestimating monthly expenses. Doing so can not only cause cashflow problems but may also cause you as an investor to lose far more money than you can afford. By learning how to correctly estimate your rental property expenses, you can better predict your monthly cash flow and keep your investments thriving.

Investing in rental real estate has a number of advantages. For example, the returns on rental real estate are highly predictable, allowing investors to be able to predict cash flows and returns on properties before they buy it. However, to invest with that level of certainty, you need to be sure that you are accurately estimating your properties monthly expenses.

Calculating Cash Flow
Estimating your cash flow consists of a lot more than calculating your mortgage payment to base your rental rate. Your monthly rental expense number should include several important costs. For example, all properties will require regular maintenance and repairs. While some rental homes may go months or even years between repairs when they do occur they can sometimes be very expensive if left too long.
This is why you should budget a certain amount for property maintenance every month.  Don’t forget about the costs of preparing the house for new tenants and regular improvements such as paint, carpet, fixtures, and appliances. These will all need to be updated and replaced over time. Setting aside a certain amount in your budget for these items long before that day comes can guarantee that you have the money you need when you need it.

Annual Expenses
Including annual expenses into your monthly calculations is also important. For example, payments for property insurance and property taxes may not be made every month, but you should still include them in your expenses. The one thing you definitely want to avoid is forgetting to include these expenses in your budget and being surprised when the payment is due.

Unexpected Vacancies
Another unfortunate monthly expense, and one that is often overlooked by investors, is unexpected vacancies. Although it is not a monthly bill you will pay, your vacancy rate will still have a real effect on your properties’ cash flow. Prepare for this by setting aside money monthly so you are prepared for when and if this happens.

Property Management Costs
The smartest thing you could do for yourself and your investment properties is to hire a property management company. This does come at a cost, however, it will ensure you run in to less issues later on down the road. A property management company will know what to prepare for. These fees for their services range between plans and companies but All County Property Management offers competitive rates and amazing services for all property investors.

Additional Costs
Finally, don’t forget about the other costs related to owning and managing a rental property. Over the span of your investing business, you will likely need to pay for things like travel to and from your properties, accounting and bookkeeping services, eviction filing fees, court and attorney fees, tax preparation, application reviewing and so on. Again, while you may not have these and other miscellaneous costs on a monthly basis, it is important to include them in your monthly budget anyway. Failing to do so could have serious consequences for your future profitability.

OR

You can just hire All County Property Management Group. We will take the guess work out of preparing for your monthly expenses! We will also help set your rent rate based on the current market, and your monthly expenses. We make owning an investment property a breeze.

At All County Property Management Group, we help not only renters find their next home but also property investors looking for an experienced property management company to take over the hard work of property management. We offer up-to-date listings to suit a variety of needs and budgets. In addition, our dedicated leasing staff works with you every step of the way so you can feel confident in your home choice. Plus our team handles all property management needs from maintenance, leasing documents, marketing and more! For more information or to see our available listings in your area, check us out today.

Advantages To Owning Investment Properties in Fort Worth, Texas

If you’re thinking about expanding your investment portfolio, investing in long-term rental properties in Fort Worth, TX is a great way to do just that. Fort Worth, Texas is home to around 1 million people. And that’s not counting all the surrounding towns and cities! Many of these people have relocated to the area to start new jobs, attend college or start a new life for themselves and their families. Catering to these demographics can be a smart business move, and owning rental property in Fort Worth, TX can be a profitable investment.

There are four main advantages to owning rental property in Fort Worth:


Rental Property In Fort Worth Provides A Great Location
Property in Fort Worth is often more affordable than other areas in DFW. Mainly because it is a bit smaller than the Dallas area. This makes it a popular choice for renters looking to save money. Luckily, Fort Worth offers thousands of job opportunities with little to no commute.

Fort Worth, TX also provides incentives for renters to stay in this area. The area has a blend of activities such as: public parks , museums, art and music venues, five-star restaurants, and high-end shopping, golf courses, happy hour spots, sport events and hiking trails. There’s something in Fort Worth for everyone, and there is room for expansion. The low cost of living (compared to surrounding cities) makes Fort Worth enticing for all people.

Fort Worth Rental Property Provides Opportunity For Growth
This is a city that is growing rapidly, and owning investment property here ensures that you’re the first to know about new developments. New neighborhoods are popping up all over Fort Worth, giving investors and landlords new properties and new homes to buy. Renters are keeping their eyes on the Fort Worth area. Owning rental property here means you increase your chances of finding tenants who want to live in a highly desirable area.

Diversity Within The Fort Worth Rental Market
Fort Worth is diverse in many different ways. It is a city that blends many cultures, backgrounds, races, and ages into one space. There is also diversity when it comes to real estate options. Fort Worth has pockets of quiet suburban neighborhoods with single-family homes, areas with luxury developments and townhomes, historic neighborhoods and more. When you own investment property in Fort Worth, you have access to many different kinds of real estate, allowing you to diversify your portfolio without having to leave the city limits.


Professional Property Management In Fort Worth, TX
Another advantage to owning rental property in Fort Worth is having access to one of the area’s best property management companies!


At All County Property Management Group, we help not only renters find their next home but also property investors looking for an experienced property management company to take over the hard work of property management. We offer up-to-date listings to suit a variety of needs and budgets. In addition, our dedicated leasing staff works with you every step of the way so you can feel confident in your home choice. Plus our team handles all property management needs from maintenance, leasing documents, marketing and more! For more information or to see our available listings in your area, check us out today.

If you are thinking about buying or already own investment property in Fort Worth, Texas and surrounding areas give us a call today!

How to Avoid a Real Estate Bidding War

A homebuyer’s worst nightmare is a real estate bidding war. For investors, getting the best deal on a property is essential to achieve a profit. Unfortunately, sometimes it’s unavoidable. However, there are a few ways you can avoid a real estate bidding war.


What is a Real Estate Bidding War?
A bidding war occurs when more than one person is interested in purchasing a property. A bidding war is different from having multiple offers because it involves a series of increasing prices. It’s similar to an auction, where potential buyers rapidly push up the property’s price past the original asking value.


Can You Avoid a Real Estate Bidding War?
In this day and age it may seem like a bidding war is inevitable in the Fort Worth area. However, there are ways for potential buyers/ investors to increase their chances of winning.


1. Go into the situation with a confident, clear mind.
2. Make the Highest Offer
3. Ensure You’re Prequalified for a Mortgage
4. Make an All-Cash Offer
5. Eliminate Contingencies
6. Remain Flexible With a Closing Date
7. Work With a Good Real Estate Agent
8. Write a Personal Letter to the Seller

When Is It Time to Walk Away From a Bidding War?
If you don’t want to get caught up in a bidding war, you don’t have to. Especially if the home isn’t a good investment. A good sign of a bad investment is if the home is priced higher than other similar homes in the neighborhood.


Managing Your Investment Property
For investors, winning a real estate bidding war is just the beginning. In fact, successfully operating a profitable investment property requires a lot of time and energy. This is why successful landlords hire All County Property Management Group to ensure their investment is well managed. An experienced property manager will understand your local market and insure you are always making money.


At All County Property Management Group, we help not only renters find their next home but also property investors looking for an experienced property management company to take over the hard work of property management. We offer up-to-date listings to suit a variety of needs and budgets. In addition, our dedicated leasing staff works with you every step of the way so you can feel confident in your home choice. Plus our team handles all property management needs from maintenance, leasing documents, marketing and more! For more information or to see our available listings in your area, check us out today.

The Top 5 Ways to Prep Your investment Property for Spring

As warmer weather quickly approaches the DFW area, it is time property owners and renters start thinking about how to prep their properties for the upcoming season. Whether your property is vacant or occupied, it is important to think about the seasonal changes coming.

1. Address Landscaping Issues
If your property experienced heavy ice this past winter, chances are there is plenty of yard work to be done to spruce things up in both your front and back yards.
Here are some things you can start doing now:
• Trim the hedges. This will help with new growth and prevent break off from damaged branches caused by winter storms.
• Clean the ground space. Keeping your yard clear of branches and leaves that may still be there from the winter months can help grass coming back in for the spring.
• Prepare for weeds. Right before spring fully blooms, it is a good idea to think about preparing for the inevitable weed growth


2. Examine the Exterior
It is easy to forget how much wear and tear the exterior of your investment property experiences over time. Before the weather gets too hot, inspect the exterior of your property. Check for worn out weather-stripping on all doors and windows. Further, make sure there are no cracks in the existing exterior. These two things, if left untreated can lead to unwanted bugs.
Here are some other key things to look out for:
• Broken or missing shingles
• Damaged and cluttered gutters
• Roof flashing that may have detached during storms

3. Backyard Necessities
Beyond needing to clean up your ground space and trim your trees and shrubs, now is the best time to prep your property’s backyard with all of the landscaping necessities
Here are some of the things your yard is likely to need at some point during peak gardening season:
• A good hose
• Sprinkler system
• Rakes, brooms ( unless hiring a crew)
• Pool supplies (if applicable)

4. Inspect the HVAC Systems
Heating, ventilation, and air-conditioning units always take a beating regardless of what season it is. Inspect your property’s HVAC systems before the Texas summer heat. Routine maintenance keeps the unit in good working order and reveals issues before they end up costing you hundreds or thousands of dollars to fix.


5. Wash Windows
The exterior portion of your property’s windows are likely dirtier than either you or your renters know. Having clean windows will add a little extra curb appeal to your property.

In the end, preparing your investment property for the upcoming warm season does not have to be difficult or time-consuming if you get started sooner rather than later.


In addition, by having an experienced property management company on hand like All County Property Management Group we will help make the seasonal transition easy for you to have a beautiful, safe, and springtime-ready investment property.

 

At All County Property Management Group, we help not only renters find their next home but also property investors looking for an experienced property management company to take over the hard work of property management. We offer up-to-date listings to suit a variety of needs and budgets. In addition, our dedicated leasing staff works with you every step of the way so you can feel confident in your home choice. Plus our team handles all property management needs from maintenance, leasing documents, marketing and more! For more information or to see our available listings in your area, check us out today.