How to Write a Rental Agreement: What You Need to Include

If you're ready to start renting out your property to tenants, you need to create an airtight lease agreement that will protect you and your property. While agreeing to payment terms is a big part of a lease agreement, there are several other things that need to be stipulated and agreed upon in order to protect your investment property.

Keep reading to learn more about how to write a rental agreement and what you need to include in it.

Payment Information

The first section of the rental agreement should detail the payment terms you and your prospective tenant(s) are to agree upon. Here's the payment information you should include:

  • Exact amount of rent
  • Due date for rent
  • Late fees for missing the rent due date, and when they will go into effect
  • Security deposit and refunds
  • Fees for returned checks
  • Other fees the tenant will be responsible for, such as utilities

You should also stipulate which payment methods you accept, such as checks, CashApp, PayPal, or money orders.

Property Specifics

The next section will go into specific details about the property rules. This is an important section because it's how you can protect your property from being carelessly damaged by tenants. Here's what you should include in this section of the rental agreement:

  • The definition of property premises
  • The definition of damage vs. normal wear and tear 
  • The owner's right to enter and inspect the property, and how much notice they need to give tenants
  • Specific details on what can and can't be altered (hanging pictures, painting walls, etc.)
  • A reminder that the tenant must inform landlord of any damage
  • A reminder to not change the locks

This section should be detailed and leave no grey area because tenants will take advantage of any vague property specifics and you'll be left paying a lot more money on repairs.

Lease Termination

There needs to be a section dedicated to lease termination that outlines if and when a tenant can terminate the lease. This section should also include any fees or penalties that the tenant will have to pay upon early lease termination. This protects landlords from having tenants end leases early without any warning which would cost landlords a ton of money.

Additional Information

You'll need to cover all your bases in a tenant agreement because you never know what a tenant might try to do. The more detailed you can be about rules and guidelines for your property, the better. Here's additional information you should include in your lease agreement:

  • Are overnight guests allowed? How long can guests stay?
  • What parking is included?
  • Are pets allowed? If so, what kind and how many? Will there be pet fees or deposits?
  • How many keys are included?
  • Specific neighborhood or community rules
  • Noise ordinances
  • What can be stored on-site?
  • Can tenants sublet rooms?

You should also stipulate what will happen if any of the above rules are broken by the tenant.

Make Sure Your Lease Agreement Complies with Laws

To protect yourself as the landlord, you need to make sure your lease agreement follows federal, state, and local laws. For example, you need to follow anti-discrimination laws, health and safety codes, occupancy laws, and disclosure requirements.

You can work with an attorney or a property management company to make sure your lease agreement is airtight and does not leave you liable.

How to Write a Rental Agreement: Get Help From the Pros

Learning how to write a rental agreement is only the first step. Actually creating one and making sure it's completely airtight and protects you and your property is difficult to do unless you have experience.

That's why you should work with a property management company that knows exactly what to include in a lease agreement. 

Here at Professional Real Estate Management, we will not only create a lease that meets your standards and complies with the law, but we'll enforce the lease to ensure your property is always protected from damage. Contact us today to learn more about our lease agreement and property management services.

Real Estate 101: The Best Ways to Get Started in Real Estate Investing

Real estate investing is one of the best ways to grow your wealth and start taking in a passive income. But for someone who's new to the real estate world, it can feel pretty overwhelming. How do you start investing in real estate if you have no prior experience?

Well, you have a few options depending on your financial standing and your investment goals.

Ready to learn some real estate 101? Keep reading for the best ways to get started in real estate investing.

Rent Out a Room

When you think of investing in real estate, you might imagine buying a property to rent out or to flip for a profit. But for people who are beginners in the world of real estate, or who don't have the money to invest in an entire rental property, renting out a single room is a great investment opportunity.

If you're planning on buying a house of your own, why not make an investment and buy a house that has a spare room to rent out? Another route would be to buy a duplex and live in one side while renting out the other. This is a great option for people with limited resources who are interested in making at least some money off of real estate. 

If you take out a mortgage for the home, you can potentially make back your mortgage payments by renting out part of the property. 

Invest in Rental Properties

If you are in good financial standing and you're ready to dive head-first into real estate investing, there's no better choice than buying a rental property. This option will earn you the most passive income and have a high appreciation rate so you earn more over time.

The most difficult part of investing in a property is finding one that will earn you the most money now and in the long-run. If you're new to investing, it's best to work with a real estate investment company that can find you the hottest properties and best deals.

Start Flipping Homes

Looking for a high-risk, high-reward investment opportunity? Do you want to earn a profit right now instead of in ten years? Flipping a house might be your best bet.

This strategy involves buying a home that you think is undervalued, fixing it up to drastically increase the value, and then re-selling it at a much higher price than what you originally paid.

This is a high-risk strategy because you're banking on the fact that the house will sell for a lot more than what you spent (a) buying the house and (b) fixing the house up. However, if it works out, you'll have earned a big profit really fast.

This is a good way to get into investing if you're someone that has money to spend already. It's not a great strategy for people who need to take out a mortgage for a home, however.

Buy Real Estate Investment Trusts (REITs) 

If you're an investor that wants to add real estate to your portfolio but doesn't want to make a traditional purchase, you can buy through a real estate investment trust (REIT). Essentially, this means you are buying stocks of real estate so you will only own a fraction of properties.

This is ideal for investors who want to get started in real estate without putting down a lot of money. You can earn profits off of your "stock" and get a better feel for how real estate investing works before jumping into an investment property on your own.

Real Estate 101: Start Investing Today

Now that you've got the lowdown on real estate 101, it's time to take the next step and start investing. The earlier you start investing in real estate, the more you'll make in the long run. Luckily, we're here to help you get started.

Here at Professional Real Estate Management, we help entrepreneurs find the perfect properties to invest in. Then we'll find quality tenants and manage the property so you don't have to. Contact us today to learn more about our investment and property management services!

The Ultimate Guide on How to Find Tenants for Your Rental Property

You've recently bought an investment property and you're excited to start renting it out and earn a passive income. But unfortunately, finding quality tenants is a lot easier said than done.

Even if you live in an area that has a high demand for rental properties, you still need to market your house and get the word out that it's for rent. Otherwise, it'll sit vacant and will end up costing you money each passing month instead of providing you some extra income. 

Here's everything you need to know about how to find tenants for your rental property.

Use "For Rent" Signs

It might seem obvious to put up "for rent" signs at your property, but it's something can be overlooked in the age of digital marketing. However, it's important to catch the attention of people walking or driving by your home because you never know who might be looking for a place to live. 

Not only will they see that your house is available to rent, but they will actually be there in-person and can form an opinion on how it looks. They can also drive around and see what else is in the area to give them a better idea of if it's a good fit. Then, they can give the renter's number a call or visit their website to see additional pictures of the interior of the home. 

Advertise on Rental Sites

The number one way to attract tenants is to advertise on rental sites like Zillow or Trulia. This is how tenants look for properties, and if yours isn't listed they will never know it exists. 

The more you include on rental sites, the better. Potential tenants want to have as much info as they can before reaching out to get a viewing. Include quality pictures of the inside and outside, and make sure the photos are free of clutter and personal items. It's best to work with a professional photographer that can really highlight the qualities of your home.

You should also include rent price and what's included in rent (HOA fees, utilities, etc.), pet policies, square footage, floor plans, and what maintenance will be provided, if any.

Post Properties on Social Media

If you have a social media account, consider posting pictures of your properties online. You can post your property to local real estate or rental pages on Facebook and you might find locals interested in renting the property.

You can also post pictures on your own pages to see if any friends or acquaintances are interested, or may know someone that is interested in renting your property.

Advertise on Craigslist

Posting properties on craigslist is one of the easiest ways to attract tenants. It's free and easy-to-use, and people looking for properties often check out craigslist before any other renting sites.

When posting an add on craigslist, be sure to include all of the same information that you'd include on other rental sites. This helps people differentiate your listing from scam posts that often flood craigslist.

Work with a Property Management Company

The best way to find quality tenants is to use a property management company because not only will they do all of the above for you, but they have a ton of experience finding tenants and know how to market properties. 

A property management company will market your property, conduct home viewings with potential tenants, create tenant applications, screen potential tenants, and write the property lease. That is a lot of work for an investor with no experience to try to do, so there's no question that hiring a property management company will save you both time and money in the long run.

How to Find Tenants: Quality Matters

When thinking about how to find tenants for your rental property, it's easy to forget that finding quality tenants is more important than quickly filling a vacancy. Yes, having a vacant property can be costly, but having a bad tenant move in and destroy your property or miss rent payments is a lot worse. By taking the time to attract quality tenants, you will be much better off. 

Here at Professional Real Estate Management and Investment Services Inc, we have all the tools to attract quality tenants to your rental property. We will handle screening tenants, the entire application process, and will deal with collecting deposits and rent every month. We also have an established reputation in the Pinellas County area and generate hundreds of calls from prospective tenants each month.

There's no doubt that managing tenants is one of the most difficult parts of renting out a property, and that's why we'll handle those duties for you. Contact us today to learn more about our property management services and how we can help make your life as an investor much less stressful.

Florida Real Estate Investment: 3 Things You Should Consider Before Investing

Florida is one of the most popular states for people looking to invest in real estate, and for good reason! Florida's housing market and economy are strong and it's a beautiful place to live. But when deciding on a Florida real estate investment property, there are some important things to consider.

If you want to make the most out of your Florida investment property, make sure you consider these three factors.

1. Determine Your Investment Goals

The first and most important thing you need to think about is what your ultimate investment goal is. This will drastically change what type of property you're looking for and which regions you should consider.

Is your goal to buy a Florida property and hold it for the long-term appreciation value so you can sell it for a big profit down the line? Do you want to buy a property with the main goal being to rent it out or use it as an Airbnb property to make profits right away? Are you looking to buy a property that you'll end up living in after retirement? 

These are questions you need to ask yourself before starting your search for a rental property. For example, if you hope to buy a property and rent it out until you retire to Florida, your priority should be looking for a property that you love and want to live in. But if you don't plan on living in the house or unit, you should mainly be focused on the home's value and whether other people will want to live there.

2. Compare the Value of Different Regions

Each region in Florida has something unique to offer, and it's up to you to decide what you value the most. For example, Miami has a unique and vibrant culture unlike anywhere else in the country. People of all ages and backgrounds live there and the city attracts millions of tourists each year making the economy very strong.

The Tampa Bay area is another great region of Florida that you should consider. The city of Tampa is growing in popularity and has a lot to offer when it comes to affordable housing, exquisite restaurants, exciting music venues, and unique neighborhoods.

Just outside the city, you'll find Pinellas County, which includes popular cities like Clearwater and Dunedin. These cities offer beautiful beach homes and houses just a stone's throw from the nearest shore. The residents in the Pinellas County area like to say "we live where you vacation", and it's true! Investing in an area with a ton of tourist activity is always good for the investor.

There are tons of other regions in Florida to consider, so be sure to do your due diligence and take a closer look at what each city has to offer.

3. Compare Individual Property Value

When investing, you're going to have to make some tough decisions while narrowing down your search for the perfect rental property. You might find a property that you really love but it costs a fortune and might not appreciate in value as much as a property that you aren't as interested in.

When looking at individual properties, you need to consider a few different things:

  • Current asking price
  • Property taxes
  • Quality of neighborhood
  • Market trends
  • Surrounding businesses
  • Quality of the property itself

Each of these factors either adds or takes away value from a property. For example, you may find an affordable property in an up-and-coming neighborhood, but it's in need of some serious renovations that'll cost you a fortune. You have to weigh those costs against what you think the value of the home will be in the future. Once you determine that value, you can compare to other properties that have caught your eye and decide which one offers you the most short or long-term value.

Make the Most Out of Your Florida Real Estate Investment

If you're considering a Florida real estate investment property, you're on the right track. Because of Florida's massive economy and strong housing market, you're already setting yourself up for success. But it's important to determine your investment goals and consider what each region of Florida has to offer before making a decision.

Here at Professional Real Estate Management and Investment Services Inc, we strongly believe that Pinellas County has the most to offer real estate investors. With award-winning beaches, top-notch public schools, an always-growing economy, and an influx of new local businesses, Pinellas County is the perfect place to invest in.

If you're ready to invest in your future, we're here to help. Contact us today to learn more about our investment services!

Increase Your Profits: 9 Factors to Consider When Buying a Rental Property

Investing in a rental property can be scary because if you choose to invest in the wrong neighborhood, you could substantially limit your short-term and long-term profits. But with the proper research and knowledge of the area, you can find a great deal on a property that will make you a ton of money going forward.

Taking the extra time and effort to research a property can make a huge difference in your investment, so don't cut corners here.

With that being said, what factors should you consider when buying rental properties? 

Keep reading to find out!

1. Neighborhood

The neighborhood you choose to invest in is the most obvious factor to consider. By looking closely at a neighborhood, you can see what type of tenants you will attract to your rental property. Some neighborhoods are filled with families, some are popular among young professionals, and some are for low-income individuals. 

You should also consider what could lead someone to rent a house in the area. For example, if you invest near a university, the majority of interest will come from college students. This can pose some problems as you may have more vacancies over the summer, and you'll also have more turnover each year.

Your safest bet is to invest in single-family homes in middle-class areas.

2. Job Market

The job market can speak volumes about the local economy and the quality of the rental properties you're looking at. Higher job demand and growing employment opportunities means more professionals looking to move into the area. This bodes well for you as an investor because it means fewer vacancies and allows you to increase rent prices to meet demand.

Also, if you hear about a popular or large business moving into the area, you can bet on a lot of professionals flooding in as well. Jumping on the opportunity to invest in a property near a popular business can pay off big time.

3. Property Taxes

Property taxes are a huge factor to consider because they will really bite into your monthly profits. However, it's important to note that high property taxes doesn't always mean you should avoid that particular property. Some residents with higher property taxes are well worth it and will earn you enough to offset those taxes. But there are also properties that carry a high property tax but don't offer enough value to be worth it in the end.

The best way to consider property taxes is to just look for properties that you like and that meet your requirements, and then see what you'd be paying monthly towards taxes. Then, weight that cost against the value of the property and you can make an educated decision from there.

4. Crime

One of the first things you should look for when researching a property to invest in is the crime rate in the surrounding area. No one wants to live somewhere with a high level of crime, and the people who do rent in those areas probably won't stay long. This can really drop the value of your property and also cause longer vacancies which costs you a ton of money.

Be sure to research crime levels in the local area. However, if you notice a neighborhood that used to have high crime levels is decreasing at a fast pace, it might be worth a look. The area could be on the come up, which means you might get a great deal on a property that's about to shoot up in value.

5. Schools

If you're looking to invest in a family-sized home, schools should be one of the first factors you consider. Families often look for homes that are zoned for high-quality schools, so this factor alone can really increase demand and reduce vacancies.

You can research online for local school grades to learn more about which ones families will be interested in living near.

6. Local Businesses

The local businesses in an area can speak volumes about the quality of the property you're interested in. Do you notice a lot of fast-food restaurants, chain businesses, and low-quality supermarkets? That's never a good sign of an up-and-coming area. 

But if you see a lot of small, unique businesses such as nice coffee shops, high-end restaurants, and organic grocery stored

7. Future Development

If the area you're looking at has a lot of construction going on, or there are new properties being zoned in the area, it can be both a good and bad thing for your investment. On one hand, it shows that there is a lot of growth in the area which means more people will be flooding in. Also, if new businesses are being built, that's always a good sign for investors in the area.

On the other hand, if new homes are being built, it could mean more competition when it comes to finding quality tenants. 

8. Number of Listings in the Area

The number of listings in a neighborhood can tell you a lot about the local demand. If there are no listings, it means that neighborhood is probably in high-demand which bodes well for you as an investor, because you can charge more and have shorter vacancies.

If there are a ton of listings for the neighborhood, it could signal that the neighborhood is in decline and people aren't looking to move there. However, it could simply mean that it's the end of a renting cycle so people have recently moved out. 

9. Average Rent Price

The money you make off monthly rent payments is a big part of your investment returns, so you need to make sure the average rent price in the area is what you're looking for. If the average rent price is pretty low, it's not necessarily a bad thing, however. For example, if you find a property in an up-and-coming area for a cheap price, investing in it and betting on higher demand in the future can really pay off.

On the flip side, neighborhoods with a higher average rent price can seem really appealing, but they also might cost significantly more and carry a higher property tax. 

So it's all about weighing the average rent price against the other factors we mentioned above to find the best value.

Consider These Factors to Find the Most Profitable Rental Property

If you're interested in investing in real estate, you know that the key to higher profits lies with the rental property you choose to invest in. That's why it's important to do your due diligence when researching investment properties by considering these factors. 

No one understands these rental property factors more than Professional Real Estate Management and Investment Services Inc. We have nearly two decades of experience in the Pinellas County area and we're eager to share our knowledge with you so you can find the most profitable rental properties. Contact us today to learn more about our services!

What Does a Property Management Company Do?

Investing in real estate is an exciting endeavor. You're taking your future into your own hands and you're ready to earn passive income off of your property. 

However, many first-time real estate investors don't realize how much work goes into owning and renting out a property. In fact, it can quickly become a full-time job which negates the premise of earning a passive income off of your investment.

That's why property management companies exist. But, what does a property management company do, exactly?

Keep reading to learn the services a property management company will provide you with. 

Set Appropriate Rent Price

Setting a rent price for your property might sound like an easy, straightforward task. But in order to maximize your profits without prolonged vacancies, you need to find the rent sweet-spot. This requires a lot of research and local market knowledge.

Setting a rent price goes beyond simply looking at what nearby properties are charging for rent. You need to consider what makes your property more (or less) valuable than the properties around you and set the price with that knowledge.

A property management company has a deep understanding of the local market and what potential tenants are looking for in a rental property. With that knowledge, they can set the perfect rent price to earn you the most money off of your property. 

Market Your Property

No matter how amazing your property is, no one will apply to rent if it isn't being marketed. People can't want what they don't know exists.

Property management companies will market your property on popular renting sites to attract tenants. They'll post attractive pictures and talk up your property so people will be rushing to apply to rent your unit.

Screen Tenants

Attracting tenants through marketing is only half the battle. It doesn't matter how many tenants you attract if they all have poor credit and renting histories. A property manager will screen tenant applications, run background checks, credit checks, and even meet them in person before deciding who the best tenant will be.

Screening tenants is so important because, with a quality tenant, you minimize the risk of vacancies and evictions. Quality tenants will also take better care of your home and will pay rent on time.

Accounting Services

A property management company will collect rent from your tenants and send you monthly reports with your proceeds. 

This is a huge benefit because collecting rent from tenants can be a real headache, and it's best to let people who have experience dealing with tenants take care of it. Then, you'll be getting a financial report each month laying out any expenses and showing your profits for each month. 

Deals with Repairs and Maintenance

Issues arise with every property and repairs and maintenance need to be done on short notice. Without a property management company, you'll be left with tenants calling you directly about issues with plumbing, HVAC, electricity, or broken appliances all the time. You'll have to either fix the issues yourself or call professionals to do the repairs.

With a property management company, you won't have to hear about any of those issues. Tenants will call them to make repairs. A property manager will also do routine maintenance to prevent expensive issues from happening down the line.

Home Inspections

Home inspections are necessary when a tenant moves out to ensure the property is in good shape. A property management company has years of experience inspecting properties so you know they won't miss a thing. 

They will put together an inspection report and hold any amount of the tenant's security deposit depending on the damage that's been done on the property. Then, they will make the appropriate repairs before the next tenant moves in.

What Does a Property Management Company Do? They Make Your Life Easier

Now that we've answered the question "what does a property management company do", it's clear that they are necessary for real estate investors. This is especially true for investors that want to be hands-off when it comes to the day-to-day tasks. 

Here at Professional Real Estate Management and Investment Services Inc, we offer all of these services and more, so you can rest assured that your investment properties are taken care of. Contact us today to learn more about how we can help you.

Curt's Crusaders Raised $3,000 for the 2019 Walk to End Alzheimer's

Professional Real Estate Management is thrilled to announce that our sponsored team, Curt's Crusaders, has raised $3,000 for the 2019 Walk to End Alzheimer's. We walked in memory of Curtis Eugene Gibson Sr, or "Uncle Curt".

We want to give an extra special 'thank you' to all of our clients that took the time to donate to this important cause. In 2019 alone, an estimated 5.8 million Americans are living with Alzheimer's disease, and it's up to the world to put resources towards research and effective treatments for this devastating disease.

Thank you again to everyone who donated for the Walk to End Alzheimer's and we look forward to exceeding this achievement in 2020!

How to Find the Best Clearwater Property Management Company

Once you invest in a real estate property, you'll quickly realize how important it is to work with a local property management company. Quality property managers can offer a ton of benefits to you and make your life as a real estate investor infinitely easier. 

However, not all property management companies are created equal. It's important to do your due diligence when searching for a company to work with, so you can move forward knowing your rental property is in good hands. But how do you know which is the best property management company?

Keep reading for some tips to help you find the best property management companies in Clearwater, FL.

Ask Around

Do you have any friends or family in the Clearwater area that have invested in real estate? 

It's a great idea to ask for recommendations from your peers or to simply listen to their experiences. They can give you a first-hand account of what it's like to work with specific companies in the area. 

While it's not always best to base your decision solely on other's opinions, it can give you a nice jumping-off point in your search for the best property management company.

Look for Experience

Experience is essential in any field of work, but even more so in property management and investment services. This is because your property manager needs to have a deep understanding of the local market and real estate trends. With that knowledge, they will know the value of your rental property and be able to price it accordingly to get you the best ROI.

An experienced property manager has also had to deal with just about everything that could go wrong with a property or with tenants. This gives them the knowledge to be able to handle crisis situations much more efficiently than a brand new company with no experience.

Check Online Reviews

Did you know that 84 percent of people trust online reviews as much or more than personal recommendations?

Online reviews can give investors a better idea of what a company's strengths and weaknesses are. If a company has an average of one or two stars, it might be best to avoid that business.

When looking at a company's reviews, it's a good idea to jot down some of the negative stuff you read so you can talk to the company in person about those concerns. Sometimes, people leave bad reviews even when the company was not at fault. So if you feel good about a company and notice a couple of bad reviews, you should consult with them in person to see if it's a legitimate concern.

Set Up an Interview

Once you've narrowed down your search, it's time to meet with the property management company in person. After all, you are tasking them with caring for your investment property, so you need to make sure you're on the same page.

During the interview, make sure they go over their fee structure, the services they offer, and what sets them apart from other local companies. Also, be sure to voice any concerns or worries you may have so you can move forward feeling confident.

If you're unsure of what to ask during your meeting, check out this blog for some important questions to ask a property management company.

Go with Your Gut

After gathering all of the information you possibly can, it's time to make your decision. 

In the end, as with most decisions in life, it's best to go with your gut. Oftentimes, you will know which company aligns with your values and needs when you meet them in person. 

You will be working with this company for years to come, so it's important you feel good about the professional relationship and you know they can be counted on to do their best and take care of your properties.

Ready to Find the Best Property Management Companies in Clearwater?

With these tips, you'll be able to find the top property management companies in Clearwater, FL that'll make real estate investing and renting a complete breeze.

Here at Professional Real Estate Management and Investment Services Inc, we believe we check off all of those qualifications. With nearly 20 years of experience in the Clearwater area, we know the local real estate market more than anyone. 

If you're interested in learning more about or property management or investment services, please contact us today and we'll be happy to answer any questions you may have.

5 Tips for Buying Your First Investment Property

Investing in your first property can feel extremely overwhelming, especially if you don't have a lot of experience in real estate. There are several factors to consider, and making a poor decision along the way can cost you big time down the line.

But with the proper knowledge and planning in advance, you can rest assured that your investment will be worthwhile. 

Ready to take the plunge and buy your first investment property? Read these five tips to help you succeed.

1. Get Your Finances in Order

Buying an investment property is a major financial decision. Not only will you need to put up a hefty downpayment, but you'll be paying monthly expenses such as mortgage payments and property taxes.

If your finances are in shambles, adding another mortgage payment and spending a large chunk of money on the downpayment will only make things worse for you. You might find it even more difficult to keep up with your monthly bills.

That's why you need to get your finances in order before investing in a property. If you have debt that you're already struggling to pay off, it might be best to hold off on adding to that debt. By paying off your credit card debt and other loans first, you'll feel a lot more confident when investing in a property.

Also, make sure you have the money for a downpayment. If you don't have it, you can consider going in on the investment with someone else so you can split the downpayment. Otherwise, you'll have to hold off on purchasing an investment property until you have sufficient funding.

2. Find a Low-Cost, High-Value Property

This is the most important piece of advice for new investors. The value of your investment is determined by (a) how much you purchase the home for and (b) how much that home appreciates in value over time. 

If you don't hit both of those marks, your return on investment (ROI) won't be as high as you'd hoped.

For example, you might find a cheap home that really catches your eye because of the low price. You purchase the home but find that the value is not increasing because it's in a poor location or is a real fixer-upper. So, although you found an inexpensive home, the investment isn't paying off at all.

By finding a relatively low-cost home in an otherwise good area, you can really capitalize on your investment. Look for properties that are surrounded by quality retail stores, highly-rated schools, nice restaurants, and more businesses that'll attract people to the neighborhood.

It's important to work with a local real estate investment company that really understands the local market. They will be able to find you the best deals on homes that'll appreciate in value over time.

3. Beware of High Interest Rates

Oftentimes, interest rates will be higher for investment properties than if you were purchasing a home for yourself to live in. That's why it's especially important to be aware of these increased interest rates when considering your mortgage options.

A high interest rate really cuts into the value of your investment, and will greatly decrease the profits you make month-to-month. Take some extra time to look for the best mortgage lenders that will offer you lower interest rates--it'll really pay off in the end.

4. Calculate Monthly Expenses 

Beyond buying the investment property, you'll also have to consider monthly expenses. These expenses are unavoidable and will cut into your profit every month. It's important to determine these expenses before purchasing a property to give you a better idea of how much you'll be making in profit.

For example, you'll need to pay for property taxes, mortgage payments, maintenance, property inspections, tenant screenings (applications, background checks), and more. By having an estimate of what this will cost each month or each year, you'll be able to set a rent price that'll pay for those expenses and still earn you a profit.

5. Work with a Property Management Company

After purchasing an investment property, you'll want to hire a property management company to handle the day-to-day tasks. These tasks include finding quality tenants, performing home inspections, fixing any issues in the home, collecting rent, and handling any issues with current tenants. 

By working with a property management company, you'll collect passive income each month without having to deal with the daily tasks of being a landlord. Property management companies have local connections with electricians, plumbers, and handymen so you won't have to worry about tracking any down during a crisis. 

Buying an Investment Property Doesn't Need to Be Hard

There are a lot of things to consider when buying your first investment property, and it may seem a bit overwhelming to someone who hasn't done it before. But if you work with people who understand property investing and the local real estate market, you'll feel a lot more at ease.

That's what we at Professional Real Estate Management strive for; we want to make investing in real estate easy and achievable for all entrepreneurs. Contact us today to learn more about how we can help you invest in Clearwater properties.

4 Real Estate Investment Strategies to Grow Your Wealth

Investing in real estate is an exciting endeavor that can lead to significant financial growth. But not only are there different types of real estate properties you can invest in, but there are also a number of strategies you can use when investing.

It's important to know about the strengths and weaknesses of each strategy that you can pursue. From there, you'll be able to determine the best course of action depending on your investment and financial goals. 

Keep reading for the top four real estate investment strategies that you should consider in order to grow your wealth.

1. Buy and Hold

The buy and hold strategy is the most popular real estate investment opportunity because it offers both short-term and long-term value.

Buy and hold means you invest in a property (single-family home, raw land, condo, etc.) with the intention of holding it for the foreseeable future. The goal is to hold onto the property while its value appreciates over time so you can then sell it and get a large return on your initial investment.

This option also offers short-term value because, for example, if you buy a single-family home, you can rent it out to tenants while you're holding the property. Oftentimes, renting out the property will give the investor enough money to cover the monthly mortgage payments (if they have any) as well as some extra money to spend on fixing the place up and managing it.

This strategy is pretty much risk-free because the real estate market grows naturally over time due to inflation and growth of the economy. Even taking into account potential future housing market drops, a home's value will appreciate beyond that.

The only negative to the buy and hold strategy is if you want to rent out your home for short-term income, you'll need to deal with tenants and maintenance of the home, which can be time-consuming and stressful. That's why it's important to hire a property management company that can handle all of those duties without you having to lift a finger.

2. Fix and Flip

If you have money to spend on fixing up an old, worn-down house, the fix and flip strategy might be right for you.

This strategy involves finding a house that is run-down and in need of some serious TLC. But you shouldn't just find any old house. You want to find one that is in a good area with real estate properties in high-demand. If you find a house that is significantly less expensive than others in the area due to it's foundational or aesthetic issues, that would be a great option for a fix and flip investment.

This strategy is best for people who have the money to both purchase the home upfront, and fix it right away. Some houses require a ton of care in order to increase in value. But if you find the right house in the perfect area, you can make a ton of money after fixing it up.

If you're looking to make an investment and get a quick return, this is a solid option. The main setback here is that you have to gamble on the fact that the house will sell for more than what you're spending to buy and fix it. You also have to hope that it sells quickly.

Another setback of this strategy is it's not a long-term investment. You'll get your return relatively quickly, and then you'll want to invest again to keep getting income.

3. Airbnb Investment Property

Airbnb has become a huge force to be reckoned with and cannot be ignored by real estate investors any longer. Airbnb investment properties allow entrepreneurs to potentially make a ton of money each month if they play their cards right.

First, you'll want to buy a property somewhere that has a lot of tourism so there won't be a shortage of people looking to stay at your property. Then, you need to make the property unique and add amenities that are inexpensive but will lead to people willing to spend more to stay with you (snacks, local tips, bikes to use, etc.).

You can literally make hundreds of dollars a night from renting out your property if you do it right and take care of the home. 

There are a few setbacks to this strategy, however. If you're an Airbnb host, you'll need to be a lot more involved than you would with other types of investment properties. Another setback is there can be stretches of time where your home won't be booked for a stay, so you won't make any money. Also, Airbnb takes a chunk of what you make from each booking.

4. Real Estate Investment Trust 

A Real Estate Investment Trust (REIT) is when you pool your money with a group of other investors to buy a piece of real estate. This strategy is generally used for large real estate properties, such as strip malls, office buildings, or apartment buildings. Think of this as something similar to buying shares in the stock market. 

REITs are very passive and you won't need to worry about maintenance or finding tenants. You just have to invest in some money and sell your shares when you think they have the most value. 

If you're looking for the most hands-off strategy, this is it. However, it comes at a price as you probably won't get as much in returns, and it's hard to determine when the best time to sell your shares will be. You also won't be able to make executive decisions over the property, giving you a lot less control.

Real Estate Investment Strategies: Get Help from the Pros

If you're looking for the best long-term real estate opportunity, buying and holding is the way to go. Not only can you make money in the short-term by renting out the home, but the property will appreciate in value over time. 

Are you ready to use one of these real estate investment strategies to grow your wealth? 

Here at Professional Real Estate Management and Investment Services Inc, we will help you find the most valuable properties in the Pinellas County area. We'll also handle all of the property management duties, so you don't have to.

Contact us today to learn more about our services and to start your journey towards a wealthy and fruitful future.

What Are the Different Types of Real Estate Investments?

Real estate is becoming a more attractive investment opportunity for young entrepreneurs across the country, and for good reason. On average, long-term real estate investments outperform the S&P 500 Index.

But if you're interested in property investment, where do you even start?

Well, first you need to understand the different types of real estate investments. Keep reading to learn more!

Residential

Residential real estate is the most popular type of investment, especially for beginner investors. This is because it requires very little effort to own and manage a residential property compared to a commercial or industrial property. This is especially true if you work with a property management company that will handle things like tenants, collecting rent, maintenance, repairs, and quickly filling vacancies.

There are a few different types of residential investment options, including:

  • Single-family homes
  • Duplexes
  • Townhomes
  • Condos
  • Apartment buildings

For beginner investors, it's best to start with a single-family home, as you won't have to worry about managing multiple units or tenants. You can also get a huge return by finding homes for sale with the potential for high long-term appreciation.

Commercial

Commercial real estate refers to properties that are leased to businesses. Commercial investments are vastly different than residential investments and offer a wide range of options.

Commercial investments can vary widely in terms of size, cost, and style. Here are some of the types of commercial investment properties.

  • Office Buildings (for small or large businesses)
  • Retail (strip malls, shopping centers)
  • Mixed-use properties (used for both business and residential)
  • Industrial (warehouses, car washes, storage facilities)

In general, commercial properties are a lot more expensive than residential properties. You also might have more difficulty filling vacancies than you would with single-family homes. That's why commercial property investing isn't recommended for beginner investors. It's best to hold off on this type of investing until you have plenty of experience and have had time to build your portfolio.

Undeveloped Land

Investing in raw, undeveloped land can be a low-risk, high-reward opportunity. The goal of investing in land is to find an area that is low in value now, but you expect to grow in value over time. 

For example, is there an up-and-coming town or city with a ton of free land surrounding it? That might be a good investment. In fact, you might be able to make a fortune off of it.

However, there's always the chance that you invest in land that doesn't gain value, and you won't get any return on it. 

This makes investing in undeveloped land a bigger risk than investing in a single-family home. A single-family home will appreciate in value simply due to inflation and the growth of the real estate market. But you can find bare pieces of land that are priced the same now as they were 10 years ago. 

With this type of investment, it's best to only make your move if you feel confident that you've found a unique and up-and-coming area.

Types of Real Estate Investments: Start with Residential Investing

While each of these types of real estate investments may have piqued your interest, it's best to start with residential investing. Not only is it the easiest route, but you'll be able to gain experience and build your portfolio so you can invest in other types of real estate in the future.

Whether you're looking to invest in your first property, or you're a seasoned investor, you need an experienced real estate management team on your side.

Here at Professional Real Estate Management and Investment Services Inc, we will help you find the best properties to invest in, and we'll take care of all of the managerial duties including finding quality tenants, collecting rent, and routine maintenance. 

Contact us today to learn more about how we can help you with all of your residential real estate investing needs!

4 Important Questions to Ask a Clearwater Property Management Company

Working with a property management company is an integral part of being a real estate investor. A quality property management company will find you the best investment opportunities, market your property, screen tenants, perform maintenance, collect rent, and much more.

But not all property managers are the same. It's important to do your due diligence when looking for a Clearwater property management company to take care of your investment property.

In this blog, we'll discuss the most important questions investors need to ask a property manager before signing an agreement.

1. What Are the Services You Offer?

This should be the first question you ask because you'll find that a lot of property managers don't offer everything you'll need them to. 

When hiring a property manager, you should look for a few key services, which include:

  • Maintenance
  • Rent collection
  • Tenant screenings
  • Minimizing vacancies
  • Investment services
  • Real estate marketing
  • Property inspections
  • Preventing disputes
  • Accounting

All of these services should be included in your agreement with the property manager. Otherwise, you'll find yourself needing to hire additional people to perform those tasks.

Note the importance of your property management company offering investment services. This is a key inclusion because without real estate investment knowledge, they won't understand the local market as much and won't be able to find you the best deals. 

By working with a real estate management company that also offers investment services, they can find you incredible investment opportunities in the area, and then manage those properties for you. The process becomes a lot smoother and you'll save more money by working with the same company the whole time.

2. How Much Experience Do You Have?

In order to be a high-functioning and effective property manager, you need to have several years of experience under your belt. No amount of market knowledge or studying can prepare someone for property management more than pure experience can.

This is because things can go wrong all the time with properties, and knowing exactly how to handle those issues (who to call, how to deal with upset tenants, etc.) is essential.

That's why your second question needs to revolve how much experience your property manager has. If they are fairly new, you need to ask what makes them more qualified than a company that has been doing it for many years.

3. What Types of Properties Do You Manage?

Next up is discussing what types of properties they tend to manage. Some property managers may only work with apartment buildings or complexes, others may only work with single-family homes, and some will work with a combination of both.

It's important to make sure your property manager has extensive experience in managing the specific type of property you own, so you know it'll be a smooth and easy process without any growing pains.

In addition to the type of properties they manage, also ask about how many properties they manage. If they manage a small number of units, it may be due to inexperience or the loss of clients from poor customer service. If they manage a ton of units, your property may not get the attention it needs.

4. What Is Your Fee Structure?

There are a few different ways property management companies structure their fees, and while they each have their own advantages and disadvantages, you need to know which one works best for you.

The first type of fee structure is based on the rent price. This means you and your property manager will agree to a percentage of a rent price which will go to the management company. 

This option is beneficial to investors because it gives property management companies the incentive to charge higher rent, which means more money for the investor.

Another popular fee structure is the flat rate, which means you'll pay the property manager the same amount, regardless of what the rent charge is. This can be beneficial because it prevents the investor from having to pay the property manager more money if the rent increases.

You should also inquire about what their monthly rate includes. Is it all-inclusive or will you have to pay extra if there is maintenance to be done? Or will you have to pay a vacancy charge if no one is renting the property? 

These are important questions to ask because oftentimes property management companies will offer low base rates but they won't be all-inclusive, meaning you'll end up spending just as much or more every month with all of the additional charges.

What to Look for When Hiring a Clearwater Property Management Company

By asking the above questions, you now know exactly what to look for when hiring a Clearwater property management company. 

No one in the Pinellas County area hits all of those marks better than Professional Real Estate Management. Not only do we provide top-of-the-line investment services, but we offer the best property management services in the county. 

Give us a call today to learn more about how we can help make your investment dreams into a reality.

A Beginner's Guide on How to Get Started in Real Estate Investing

Do you have dreams of one day retiring without worrying about your finances? Do you want to earn a passive income instead of dealing with the everyday 9-5 work grind?

If yes, then real estate investing might be the answer to all of your hopes and dreams. 

But investing in real estate isn't as simple as you might think. There are a lot of factors to consider, and the more research you do, the better off you'll be as an investor.

Ready to learn the basics of how to get started in real estate investing? Keep reading for what you need to know!

Consider Your Financial Standing

As with any major investment decision, it's important to take a close look at your financial standing. You'll need to determine how you will pay for the real estate investment and what you can afford without digging yourself into a deep hole.

While some people may be in a great financial position and are able to pay for their investments upfront without taking out a mortgage, that's not usually the case. You'll likely need to take out loans in order to invest in real estate, at least in the beginning.

You need to figure out how much you can afford to pay for a downpayment and what you can spend each month on mortgage payments. If you need help with the downpayment, consider going in on the investment with a partner.

Keep in mind, you will be making money off of renting these properties out, so that will help with the monthly mortgage payments and other expenses like property tax. 

Figure Out What Type of Property You Want to Invest in

The next step is to figure out the type of properties you want to invest in. Do you want to invest in a single-family home? Do you want to buy a few townhomes to rent out? Or does investing in a commercial building sound more appealing?

This determination needs to happen early in the process because there's a big difference between investing in a commercial building and investing in a single-family home. 

For beginner investors, your best bet is to start with investing in a single-family home or a townhouse. It'll be a lot easier to manage and is a less risky investment.

Determine an Investment Strategy

If you're just getting started in real estate, you probably didn't know there are a ton of different strategies for investing in real estate. And it's important you have a clear-cut strategy before you make your investment. 

Here are some of the most popular real estate investment strategies you should consider:

  • Buy and Holds
  • Fix and Flips
  • Airbnb Properties
  • Real Estate Wholesaling
  • Commercial Real Estate Investing
  • Passive Investing

The most popular of these options, if you're looking for long-term returns, is the buy and hold strategy. This means you purchase a property, rent it out to pay off the mortgage and other expenses, and get a big return on the long-term appreciation of the property value.

It's important to reach out to a local real estate company that can find you the best deals that'll earn you the highest return in the long-run. 

Find the Perfect Location

If you're investing in real estate with the simple goal of getting a return on your investment, then you can't really go wrong no matter where you invest. Property value increases over long periods of time across the board. This is due to a few factors including long-term economic growth and inflation. 

But your goal shouldn't be to simply get a return on investment. It should be to get the biggest return on investment that you can. You should look for a location that is a low-risk, high-reward investment. 

Areas with up-and-coming neighborhoods, good schools, quality restaurants and places to go out, and unique geography indicate that it's a good area to invest in. 

If you can find an area that checks all of these factors and shows positive economic trends, then it's definitely worth a closer look.

Build a Team

Your work doesn't end once you find the perfect investment property. You'll now need to figure out how you're going to manage the property. 

You'll need an electrician, plumber, handyman, home inspector, HVAC professional, yard service, and pest control. That's a lot of people you'll need to have on-hand, which is why smart investors decide to hire a property management company, instead.

A property management company not only handles the day-to-day management of your properties, but they also find quality tenants and ensure that there are no prolonged vacancies.

With a property management team on your side, you won't have to worry about finding a plumber or electrician in an emergency situation because they handle all of that for you. You won't have to deal with tenants or be on-call 24/7. If you're looking for a truly hands-off real estate investment experiences, then a property management company is a necessity.

How to Get Started in Real Estate Investing: Work with the Pros!

Now that you know the basics of how to get started in real estate investing, it's time to work with the people who know the ins and outs of investing in real estate. No matter how much research you do on your own, it can't replace the decades of experience that the professionals have.

At Professional Real Estate Management and Investment Services Inc, we will not only find you the perfect investment property, but we'll handle the property management, as well. It doesn't get much easier than that!

Ready to get started? Contact us today so we can help you find exactly what you're looking for in a real estate investment property.

7 Key Benefits of Investing In Real Estate

We all know that there are inherent risks and benefits when it comes to investing. But investing is essential for anyone who wants to retire at a reasonable age and have money to live comfortably as they grow older.

The question is, what type of investing will benefit you the most? How can you invest wisely so you minimize risk and maximize reward? The answer is by investing in real estate.

Keep reading to learn about some of the many benefits of investing in real estate!

1. Generate Passive Income

With most long-term investments, you don't get the benefit of making money both now and in the future. You just invest in the stock market or in a business and wait many years before you start to reap the rewards.

With real estate investing, you'll not only have the long-term investment of owning a property that will increase in value, but you'll make short-term money off of tenants paying rent. That means you'll basically have money fall into your lap without doing much of anything.

Even if you take out a mortgage to buy an investment property, you can set the rent to pay for your monthly mortgage payments and then some so you have extra cash each month.

If you truly want to be hands-off and make money off your properties without doing any of the managerial work, you should hire a property management company to handle everything from finding tenants to fixing property issues.

2. Long-Term Financial Stability

Getting passive income is great, but the real goal of investing in real estate is the long-term value. Buy owning real estate properties, you have something that, over time, will only increase in value. That means you will always have tenants paying rent (and rent is always increasing) and you'll always have the option to sell your property down the line.

Even if we enter a housing crisis and the value falls, it'll shoot right back up afterward. So the long-term stability is always there. 

By investing in real estate, you can feel confident that you own something that will always have value. And that fact alone will give you financial stability in the long-term.

3. Tax Benefits

Many entrepreneurs choose to invest in real estate because of one big benefit: tax exemptions and tax breaks. That's right, the money you make off of a rental property is not subject to the self-employment tax. You could end up making a full-time salary off of your rental properties without worrying about paying a ton of taxes on the income every year!

In addition to that tax exemption, the government offers tax breaks for things like depreciation, travel expenses, maintenance, insurance, property taxes, and legal fees. Property investors also get lower tax rates for their long-term investments.

4. Real Estate Appreciation

As we mentioned earlier, entrepreneurs don't invest in property to simply enjoy short-term passive income. They invest for the long-term value. But why is real estate such a great long-term investment option?

Well, because it appreciates in value. Land and properties increase in value over time. Some properties show a steady increase, while others might skyrocket in value. No matter where you invest, the property will appreciate in value making real estate investing a safe and fruitful investment.

5. You'll Become an Entrepreneur

Are you tired of answering to your boss every day? Do you want to start making more decisions for yourself and be in control of your income? 

Real estate investing makes you an entrepreneur and gives you the opportunity to work for yourself. You have the freedom to make decisions like where to invest, how many properties you want, how involved you want to be in the renting process, and when to sell.

If you have enough passive income from your properties, you can even say goodbye to your day job completely and start living off of the monthly rent payments!

6. Portfolio Diversification

When it comes to investing, having a diverse portfolio is vital to your financial security moving forward. Basically, you don't want all of your eggs in one basket.

If you invest in the stock market, there's always a chance the market crashes and the value of your stock plummets. In times like that, owning real estate becomes so valuable because it is a physical asset. No matter the state of the economy, you can always rent out your property and make money off of it because people need a place to live. 

Diversifying your portfolio through investing in real estate is also a great way to protect against inflation. This is because as inflation continues to grow, so does the cost of living. This means the rent will go up and the overall value of your property will increase with inflation. That's why real estate investors actually embrace inflation--it increases the cash flow!

7. Possibility of High Return on Your Investment

As with any investment, there's always a possibility of striking gold and getting a huge return on investment. People are always looking for the "next big thing" so they can invest while it's cheap and watch as the value skyrockets.

The same is true for real estate, but it may be even easier to predict than the stock market.

That's because you can put time and effort into researching real estate market trends, up-and-coming neighborhoods, and other factors that may lead to a vast increase in property value.

The best way to find these gems is to hire a real estate investment company that knows the local market more than you do. They will work with you on not only finding the perfect area, but also finding a property that has great value and a high possibility of significant long-term appreciation.

Are You Ready to Experience the Benefits of Investing In Real Estate?

Now that you know all about the benefits of investing in real estate, it's time to get started! There are plenty of great real estate opportunities out there for entrepreneurs to start investing in. All you need is a bit of guidance in finding the best deals with the highest potential.

That's where we come in. At Professional Real Estate Management and Investment Services Inc., we can help you find the best investment properties in the Pinellas County area. Not only that, but we will manage the property so you won't have to. You can simply make the investment and watch the cash flow in, both now and in the future.

Ready to take the next step? Contact us today to learn more about how we can help you invest in your future!

5 Important Reasons Investors Should Hire a Property Management Company

Investing in real estate can be a fruitful financial endeavor. If you make smart decisions when investing in properties, you can not only make money from renting them out, but from property value appreciation.

But if you aren’t careful, your investment can turn into a full-time job that you don’t have time for.

That’s why we’re here to talk about how property management companies can make your life as a landlord and real estate investor much easier. Keep reading for some important reasons to hire a property management company today.

1. You Won’t Need to Live Near Your Rental Properties

More often than not, the best real estate investment opportunities aren’t waiting for you in your own backyard. You need to look beyond your city, and even your state, to find the most valuable properties to invest in.

But how can you invest in properties that are hundreds or thousands of miles away? How will take care of things like tenant screenings and home repairs?

Well, you can hire a property management company to do all of that for you! They will perform all of the local duties that you can’t do from afar. This not only gives you the freedom to invest wherever you want, but you’ll also be able to travel without worrying about your properties while you’re away.

2. You Can Own Several Rental Properties

Are you looking to invest in multiple properties? Oftentimes, if you find an area that has great value, it’s a great financial decision to invest in more than one property.

But as a landlord, owning multiple properties means multiplying your management duties. This is how a simple investment can turn into a full-time job. But if you work with a property management company, you can invest in several properties without increasing your workload at all.

Property management companies have experienced staff that work diligently every day to ensure your properties are being managed properly. Utilizing their knowledge and resources allows you to continue working your current job or to enjoy retirement without worrying about day-to-day management tasks.

3. Property Management Companies Handle Tenants

Handling tenants is probably the most time-consuming, and often most frustrating, part of being a landlord. First, you have to get potential tenants interested in applying to rent your unit. Then, you need to screen these tenants to make sure you find the best one.

Even once you’ve found a good tenant to rent to, you have to worry about collecting rent each month, enforcing property rules, inspecting the unit after the tenant has moved out, and much more. If a tenant decides to break the lease or is a evicted, you then have to rush to find a new tenant so you don’t lose a ton of profits.

Dealing with tenants alone can feel like a full-time job, especially if you’re renting out multiple units. But a property management company will handle all of those duties for you, so you won’t have to worry about any of it.

4. You Won’t Feel Overwhelmed From Management Duties

Have the above-mentioned duties made your hands sweaty just at the thought of dealing with it all? Well, that’s not all landlords need to worry about.

There are also the cases of things going wrong within the unit such as the AC/heater breaking, hot water not working, blown fuses, plumbing issues, and much more. The threat of these issues will have you stressing out constantly, which is why you should delegate these tasks to a property management company.

If any problems arise within a unit, the tenant will contact the company who will then set out to resolve it. You won’t even know there was an issue because it will have been solved so quickly and effortlessly without you even lifting a finger.

5. You Will Save Money

The reasons listed above should have you at least a little convinced that hiring a property management company is well worth it. But if you have any doubts, it’s likely that you can’t or don’t want to spend the money on one.

But the reality is this: hiring property management companies will actually save you money in the long run.

Think about it. You will have the freedom and ability to invest in more valuable properties because you won’t have to worry about day-to-day management. This fact alone means more profit from rent and more profit from home value appreciation over time.

If you live far from your properties, you won’t have to worry about travel expenses to go check on your units. You can just have a management company communicate with you via phone and email.

Most importantly, you’ll be saving a ton of time, and we all know time is money, especially if you have a full-time job to worry about.

Hire a Property Management Company Today!

Now that we’ve laid out the important reasons why landlords should hire a property management company, it’s time to take action!

At Professional Real Estate Management, we will take care of all your property management and investment needs.

Looking for a unique investment opportunity? We’ve got real estate agents and brokers to find you the best deals in Pinellas County. Need your properties to be managed? We’ll take care of tenant screenings, daily management duties, and much more.

Contact us today to learn more about how we can help you!

2019 Pinellas County Walk to End Alzheimer's

The 2019 Pinellas County Walk to End Alzheimer's is taking place on October 12th, and we are sponsoring a team once again.

This year, our team is walking in memory of our dear Uncle Curtis Gibson, who lost his fight with early-onset dementia last year. Alzheimer's affects millions of people every year, and we hope to raise money to fund important research being done to find a cure for this devastating disease.

Click here to donate or join our team and help us help those who are affected by Alzheimer's disease.

5 Reasons You Should Invest in Clearwater Properties

Investing in real estate is one of the best ways to increase your wealth without doing too much hands-on work. You can invest almost anywhere and you'll probably get a decent return on your investment, simply due to inflation and growth of the economy.

But for smart investors, the goal isn't to simply get a return on investment. The goal is to find a location that has a high probability of giving you a massive payout down the line. 

We're here to tell you that Clearwater, FL is the perfect location for investing in real estate. Not only will your Clearwater properties earn you money now, but you'll see a ton of growth in property value in the future.

Here are a few reasons why you should be excited about investing in Clearwater real estate.

1. Greater Home Appreciation

While there is money to be made by renting out single-family homes to tenants, the purpose of your investment should be for the appreciation of the property over time. 

Appreciation is the increase in a home's value over time. The higher rate of appreciation a property has, the more money you'll make off of it in the future. 

The average rate of home appreciation is 3.8 percent. So, if you invest in a property that appreciates at the national average, you can expect a 3.8 percent growth in your investment each year. That's a decent amount of growth, but investors should seek out options that provide higher rates of appreciation value.

That's where Clearwater properties come in. In the past year, there has been a 14.5 percent increase in Clearwater home values, putting the area well ahead of the national average. 

2. Geographic Location

So, why are Clearwater properties appreciating at higher rates than other properties? Well, it's in part due to the perfect geographic location. 

Clearwater is home to one of the most popular beaches in the country, making it a top tourist destination year-round. Clearwater boasts perfect beach weather every month of the year, giving people an escape from harsh winters up north. 

The area also offers a ton of top-rated restaurants, clubs, museums, and venues. 

Not only is Clearwater a great city in its own right, but it's also just a short drive to the eclectic city of St. Petersburg and bustling city of Tampa. Residents of Clearwater are in the perfect location which is why it's such a popular place to live.

3. Supply and Demand

Not only is Clearwater home to long-time Florida residents of all ages, but it's also a hot spot of Northern retirees. This combination creates a high demand for clearwater properties, and that demand is only going to grow. 

As the demand for properties in Clearwater grows and the supply stays stagnant, the value will increase at a much higher rate. 

While other cities might be showing an increase in housing demand, no one can guarantee that demand continues to grow. But in Clearwater, due to its pristine location, there will always be high demand for properties. This not only makes Clearwater a high-value investment, but a low-risk one as well.

4. Wide Variety of Properties

Are you looking to invest in a luxurious beach condo or apartment building? Or are you interested in a single-family home in a top Clearwater neighborhood? Either way, you'll have those options and more when you invest in Clearwater, FL.

If you have a general idea of what type of property you want to invest in, be sure to get in touch with a local real estate investment company. They will help you find exactly what you're looking for and will get you the best deals.

5. Strong Economy

One of the biggest fears people have when investing in real estate is that the housing market and/or the economy will crash and you'll end up losing on your investment. And while that is always a possibility, you can rest assured that Clearwater has a strong economy and will always be a valuable location.

As of 2019, Clearwater has an unemployment rate below the national average, and a job market increase above the national average. In fact, future job growth is expected to exceed the national average by almost 8 percent. This means that not only is the economy in Clearwater strong now, but it shows no signs of slowing down over the next ten years.

Invest In Clearwater Properties Today!

Clearwater is, without a doubt, one of the best locations to invest in real estate. Not only will your Clearwater properties appreciate at a higher rate, but you'll be able to find exactly what you're looking for with the help of a real estate investment and management company.

That's where we come in. Not only can we help you find the perfect property to invest in, but we will manage the property so you won't have to worry about the nitty-gritty property management details. 

Contact us today so we can help you find the best investment for your future. 

Making the Most of Your Investment: Why Investors Need a Real Estate Management Company

You've decided to start investing in real estate--congratulations! You're on your way to creating a lifelong passive income for yourself. That is, if you play your cards right. 

Investing in real estate isn't as simple as finding a property and renting it out or flipping it. There are nuances to this market that are key if you want to make the most out of your investment. 

So, how can you successfully navigate the world of real estate investing? 

Well, you can't do it on your own. Keep reading to learn why working with a real estate management company is essential for any property investor.

Unparallelled Knowledge of the Area

If you're thinking about investing in property in a city or town that you aren't familiar with, it's incredibly important to work with professionals. No matter how much you know -- or think you know -- about the area, it doesn't compare to the knowledge of local realtors and brokers.

When investing in properties, there are many local factors that need to be considered. 

What are the market trends for the area? What demographics are moving in? What is the state of the local economy?

These are just a few of the questions you'll need to know the answers to. And a professional real estate company will have those answers, and more.

By working with a team of professionals, you'll develop a deeper understanding of the area you want to invest in. You'll feel more confident and be able to make educated decisions when it comes to investing in properties.

They'll Find You the Best Deals

Once you've learned all you can about the area, it's time to find properties to invest in. But it's not as simple as going on Zillow or Trulia and doing a quick search. That's a surefire way to overspend and lose money on your investment.

A real estate management company can find you the best deals in town that will pay out the most in the long-run and have high appreciation value. You can rest assured that you won't miss out on any killer investment opportunities when you work with a real estate investment company.

Setting the Right Rental Rates

Setting a rental rate isn't as simple as looking at what other property owners are charging their tenants. Many factors go into determining rental rates such as new appliances, location, accessibility of good schools, and tenant demand.

A real estate management company will find the rental rate sweet spot that'll get you the most money without having periods of time without tenants.

Marketing Your Property

Once you invest in a property, you'll need to market it so potential tenants can see it. Without marketing, you may end up with only a few lackluster tenant applications, or none at all.

A real estate company will market and advertise your property online so it attracts not only more tenants, but better ones. 

Attracting the Best Tenants 

Finding tenants is time-consuming and can cost you big-time if you make a mistake. The last thing you want is to end up with tenants that don't pay their rent or end up breaking their lease. This leads to a loss of income that can be entirely avoided by delegating this task to a management company.

A property management company will find you the best tenants that have adequate income, credit scores, and high-quality applications. And if for some reason the tenants don't work out, the management company will find replacement tenants right away so won't have any loss of income.

Hire a Real Estate Management Company Today!

If you're serious about making the most out of your investments then don't try to tackle this on your own. By working with a real estate management company you can find the best investment opportunities without putting in the extra effort.

Interested in investing in real estate in Pinellas County, FL? Contact us today to learn how we can help you!

Real Estate Investing for Beginners: 5 Things You Need to Know

Investing in real estate is similar to starting a business--you're putting money into something with the hopes of making a profit down the line. But with that being said, many investors don't put the same time and effort into researching investment opportunities as they would when starting a new business.

And that's why many real estate investors won't maximize their profits. 

But if you're willing to do your research and put the work in before investing in real estate, you can make a ton of money without doing work moving forward.

Keep reading to learn all about real estate investing for beginners, so you can feel confident in your future home investments.

1. Study Price Trends

The key to successfully investing in real estate is finding properties that provide you with a ton of value. For example, if you find affordable properties and you see that the price trends in that neighborhood are skyrocketing, that would be a better investment than properties with a stagnant or declining value. 

If you are investing in property in an area that you aren't familiar with, it's important to work with real estate management services that can help you find the best investment properties. Spending a little extra money on working with a local business will pay off in the end because you'll end up with a highly-profitable property.

2. Examine Statistics and Business Trends

Your research doesn't stop at simply studying price trends. You need to take a closer look and ask why these trends are happening. Oftentimes, you can find statistics such as crime rates and the availability of good schools as an indicator of why prices are increasing or decreasing.

You should also research whether new businesses are opening up and what kind of businesses they are. For example, if there is a brand new shopping center and high-end restaurants replacing run-down businesses, that's a strong indicator the area is on the rise.

3. Take a Closer Look

There's only so much you can learn from doing your research online. You can analyze countless statistics and it might look perfect on paper, but you won't know until you check it out in person. Before looking at specific properties, just take the time to go around the area and see what you find.

Look at who is living in the area and talk to them about why they moved there, especially if they are young professionals. This can give you a more human perspective and will show you what is enticing about the area.

From there, start looking at different properties and consider their location in terms of accessibility to quality schools, grocery stores, restaurants, and nature (beaches, bodies of water, hiking trails). Find a property that offers something unique, something that will make prospective tenants want to live there over other properties.

4. Calculate Expenses and Profits

Once you've narrowed your search down, it's time to talk money. You'll need to determine what the cost of buying the home will be. Consider the downpayment cost and what type of mortgage you'll get, and then determine how much rent you'll charge. If you find that you'll need to charge a higher-than-average rent in order to make a profit, how will you sell that to prospective tenants?

You'll also need to consider additional costs such as property maintenance and property vacancies.

5. Minimize Your Involvement 

If you aren't careful, investing in real estate can become a full-time job instead of a passive income. As mentioned above, you'll have to deal with maintenance issues on a regular basis. Not only is this time-consuming, but it can get expensive. Not to mention if you're a non-local investor, it'll be downright impossible.

That's why it's important to minimize your involvement by hiring a property management company. They will take care of finding you properties to invest in, property maintenance, finding and screening tenants, property inspections, accounting, preventing tenant disputes, and minimizing vacancies.

With a property management company, you'll be able to invest in several properties without having to do any of the hands-on work.

Real Estate Investing for Beginners: We Make It Easy

Putting in the time and effort to research a good area and property to invest in may seem daunting. But once you've followed these steps on real estate investing for beginners, you'll be making big profits without much effort.

If you're looking to invest in real estate in Clearwater, FL, be sure to contact Professional Real Estate Management and Investment Services today. Not only can we help you find the perfect investment property, but we will take care of all your property management needs.

Tenant Summer AC Maintenance Information

The Dog Days of Summer are upon us and relief is months away.  This is not only creating stress for you and increasing your utility costs, but is stressing your air conditioning unit. 

Here are some common sense and easy things you can learn and do to help your system keep you as comfortable as possible in the Florida summer.

PLEASE UNDERSTAND:  Generally speaking any air conditioning system is designed to hold up to a 20 degree difference between the outside air and the inside air, while keeping the humidity around 55%.  When the temperature outside reaches 95, your air conditioner will run continuously and really begin driving up the electric use attempting to reach anything below 75 degrees.  With an outside temperature of 98 degrees, for highest efficiency you should set your thermostat no lower than 78 degrees. With extreme humidity that heat index could well be at or over 100 degrees. The difference between setting your thermostat at 72 degrees and 78 degrees can increase your cooling costs by as much as 47%.

TO HELP YOUR AIR CONDITIONER KEEP YOU COOL:

  1. Make certain you have clean filters. Change them often.  This will increase air flow through the house.
  2. Make certain no furniture is blocking air conditioning wall air return vents.
  3. Use your ceiling fans or get floor fans.
  4. Make certain all shades are closed on the “sunny sides” of the house.
  5. Reduce heat sources. Use less lighting, turn fans off when no one is in the room, keep heat producing appliances, such as televisions or lamps, away from the thermostat.  Their heat can make the thermostat think it needs to work harder to cool the room.  Limit cooking and baking to the coolest part of the day.

Do not turn your air conditioner off when you are leaving for work or going on vacation.  Leave it set at 80-82 degrees.  This keeps humidity from building up, reduces energy consumption and will not over tax the air conditioning system when you get home and turn the temperature down again. 

Armed with this information and a tall glass of ice tea, we wish you all a comfortable summer.

        The Dog Days of Summer are upon us and relief is months away.  This is not only creating stress for you and increasing your utility costs, but is stressing your air conditioning unit. 

Here are some common sense and easy things you can learn and do to help your system keep you as comfortable as possible in the Florida summer.

PLEASE UNDERSTAND:  Generally speaking any air conditioning system is designed to hold up to a 20 degree difference between the outside air and the inside air, while keeping the humidity around 55%.  When the temperature outside reaches 95, your air conditioner will run continuously and really begin driving up the electric use attempting to reach anything below 75 degrees.  With an outside temperature of 98 degrees, for highest efficiency you should set your thermostat no lower than 78 degrees. With extreme humidity that heat index could well be at or over 100 degrees. The difference between setting your thermostat at 72 degrees and 78 degrees can increase your cooling costs by as much as 47%.

TO HELP YOUR AIR CONDITIONER KEEP YOU COOL:

  1. Make certain you have clean filters. Change them often.  This will increase air flow through the house.
  2. Make certain no furniture is blocking air conditioning wall air return vents.
  3. Use your ceiling fans or get floor fans.
  4. Make certain all shades are closed on the “sunny sides” of the house.
  5. Reduce heat sources. Use less lighting, turn fans off when no one is in the room, keep heat producing appliances, such as televisions or lamps, away from the thermostat.  Their heat can make the thermostat think it needs to work harder to cool the room.  Limit cooking and baking to the coolest part of the day.

Do not turn your air conditioner off when you are leaving for work or going on vacation.  Leave it set at 80-82 degrees.  This keeps humidity from building up, reduces energy consumption and will not over tax the air conditioning system when you get home and turn the temperature down again. 

Armed with this information and a tall glass of ice tea, we wish you all a comfortable summer.