Where can real estate investors to find help as investment gurus get shut down or get shipped off to prison?
The residential and commercial real estate market is heading up, but as attractive as investing may be today, it can be full of expensive pitfalls and time intensive tasks for those that don’t have solid real estate backgrounds. Unfortunately, a new witch hunt focused on investment gurus could thin the ranks of those on hand to advise aspiring investors.
Donald Trump was just sued by the New York Attorney General, likely making him the first domino in the line. The Donald might not be afraid of a few lawsuits or even having to shed out tens of millions of dollars in refunds and compensation to students of what was formerly known as Trump University, but most others in the game are probably not as experienced at deflecting this type of heat. Trump’s real estate education empire is being attacked for claims of fraud and operating as an educational institution without a license.
Of course everyone is innocent until proven otherwise, but just the wave of ensuing investigations, bruising to reputations and interruption of business as well as threats of lawsuits will be enough to force many other gurus out of the game or to close their doors as a preemptive measure.
This ripple effect will take down a wide variety of courses, books, websites and quite possibly reality TV shows too.
At the same time the market is really just ripening to the most attractive point for making new investment moves. The National Association of Realtors Quarterly Commercial Real Estate Forecast for 3Q 2013 to 3Q 2014 predicts all factors moving in the right direction, including vacancy rates declining and rents up. In particular the multifamily property sector is pegged to remain a ‘landlord’s market’ with a nation average rent lift of 4% per year and 4% vacancy rates.
For those looking to take advantage of the current market acquisitions can be the easy part, it’s everything else that comes after that that really makes the difference in an investment being top or flop.
Fortunately a full service property management company can take it from there, eliminating much of the need for splurging $35,000 or more on guru courses. Then that money can be put back into actual investments that generate returns.
A full service property management company can assist with everything from bookkeeping to marketing to leasing paperwork and maintenance. On the front side they may even be able to provide some advice and guidance for better buys and smoother transition, or at least refer you to a cost effective real estate attorney.
So find a great property management firm to work with and get out there to capitalize on current market conditions…