How to Make the Right Choices when Acquiring New Assets.

When locating a new property, engaging the right property management firm is key!!  Reynolds Realty Advisors provides full property evaluation services. We partner with you from the beginning to evaluate the property, determine repair costs and income optimization options, ensuring you purchase the right asset for the right price!

We are your partners from acquisition through the renovation, leasing and maintenance.

Your Investment….Our Focus.  Your Asset….Our Experience!

Here are twelve strategies to locate new properties. We hope you find these tips useful for making the right choices when acquiring new assets.

1. Distressed properties. These offer the best opportunities for creating value. Be sure to avoid floor-plan obsolescence and structural problems. Analyze the property as if you were going to live in it. Be aware of properties with major structural problems. Partner with your property management firm to get bids on costs for easily solving problems, determining your optimization plan, costs and offer price for that asset.
2. Vacant properties. Keep an eye out for properties with boarded window or doors, those that lacking cosmetics, landscape or maintenance, or repos and shells. Determine what would be the highest and best value for that asset.
3. Auction houses. There are numerous auction houses nationwide. Call on auction houses in advance to understand the acquisition process, list price versus sales price and know how much you are willing to pay for property based upon its true value.
4. Bank workout department. Work with bank asset management departments to help solve their problems. Be seen as their solution as they will off-load assets you there thereafter, becoming a part of the REO group as an approved investor.
5. Professional associations. Working closely with local chapters of national organizations is best. Organizations an include, such as National Apartment Association, Apartment Association of Orange County, Better Business Bureau, Institute of Real Estate Management, Society of Industrial and Office Realtors and BNI International.
6. Realtors. Work with commercial realtors with Certified Commercial Investment Management designations for complexes is best. New agents will have more time and be more willing to help find value added opportunities.
7. Courthouse. Title companies, county websites, Internet search engines and courthouses are great options for sourcing deals.
8. Unpaid taxes. Tax sales done by the county are some of the best deals on the market.
9. Internet. There are dozens of Internet sites key for sourcing properties. Work with experts who can help you to navigate through them effectively and efficiently.
10. Attorneys. Handle bankruptcy, eviction notices, review financing agreements, private funding, probate, default or asset management for banks, county prosecutor’s office.  Knowing how to start a relationship is vital.
11. Letter campaigns. Use letter campaigns to source owners looking to sell but who have not yet made the commitment. Working with relocating owners and leveraging 1031 exchanges are also very effective.
12. Government sources. Find government-supplied properties through IRS, U.S. federal marshal, sheriff’s sales and online.

Locate Property – Identify Income Assets. Los Angeles and Orange County California.

The post 12 Tips: How to Locate Property appeared first on Reynolds Realty Advisors.

Refer a Client, Receive $100 – $1,000

How can we help your business? Please let us know. We’re always looking for referral partners. Contact us any time at 866-613-7772.

Our goal is to provide excellent quality and value to property owners to ensure the best experience for their residents. Do you know property owners who need support with onsite management? If so, please keep us in mind. We offer referral fees of $100 to $1,000 depending on the size of the property.

Property Management Firm vs. Self Manage

Many owners self manage their complexes, which often seem like the safest and/or least expensive option. But, there are many things you need to consider as an owner if you are managing your own properties such as:

• Are you focused on property management?
• Is this really your passion?
• Are you organized?
• Do you have time for this project?
• Do you understand cash flow?
• Do you know how to maximize the value of your property?
• Are you comfortable negotiating with vendors?
• Do you like taking tenant complaints and solving their issues?

Reynolds Realty Advisors has a proven successful model that we deploy at each of our complexes, customized to meet each of our customers’ expectations. With our dedicated property managers, deployment of our streamlined processes and leveraging our sophisticated systems, we are able to maximize the value of your property!!

We manage the properties beautification, examine expenses, evaluate vendors, cure delinquencies and vacancies and drive rents up, all of which increase the property cash flow and overall value!! We operate on the principle of always doing the right thing for the owners and tenants. We have a proven track record of force appreciation and increasing cash flow, while at the same time creating communities of happy families!!

Question about our services? Contact us today.

Summer Bash at San Antonio!

We held this event this past Saturday from 11 a.m. – 3 p.m. It was a huge hit with the tenant and a great time was had by all. We served pizza, cupcakes, water and juice and provided music and pool toys for the kids. They loved it! Enjoy our pics below!

[portfolio_slideshow]

Like us on Facebook »

The post Using a Property Management Firm vs. Self Manage appeared first on Reynolds Realty Advisors.