Q: Do you have a favorite sort of business that you like for the new entrepreneur? My skills are not online but that seems to be where everything is headed. My biggest fear is taking a risk and failing. Is there a type of business that can assure me success? — Kate
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The Tory government has brought back legislation that outraged municipalities this fall with changes that have won the support of local governments.
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“If it ain’t broke, don’t fix it,” is advice many people live by.
Not Dianne Smirl.
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EDMONTON – Most of the cramped bachelor suites in Capital Tower Apartments still look much like they did when the building went up in Edmonton’s inner-city nearly 40 years ago.
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Bareland condo owners in Alberta will now have increased protection against large assessments to repair and maintain managed property, thanks to new legislation passed by the Alberta government.
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Before you even begin to venture out into any real estate market, you must consider the most important aspect of real estate investing which is the customer (i.e. tenant). They are the ones who will pay your bills, tell you of any issues and leave you with positive cash flow every month.
For this reason, you must absolutely have an outstanding property manager who will oversee their every request. Whether you manage your own properties or outsource this aspect of your business, this is key to success. The best property can quickly turn into a nightmare if impeccable property management does not occur. This can also be the difference between a regular property and an outstanding one with people lining up to rent from you. It has certainly happened to me!
If the thought of a leaky toilet call at midnight is enough to stop you from managing a property, then consider getting a property manager who has experience in the community you are considering purchasing in. You should also get to know your property manager on a personal level also and this will only make your overall experience more beneficial.
For a detailed list of questions to ask your prospective property manager, please visit this site: http://tinyurl.com/bq2y2s9