<

Real Estate Blog

Is a Condo a Good or Bad Investment?

System - Thursday, August 4, 2016

Read More +

Hi! This is Steve Rozenberg, I’m the owner and co-founder of Empire Industries Property Management Company located in Houston, Texas.

Today, what we are going to talk about is whether or not a Condominium is a good or bad investment and obviously there’s a lot of variables in any investment. Sometimes Condominiums, they can be quite profitable, depending on where they are located, and other times they can be quite a headache.

Some of the challenges that I’ve experienced with owning a Condominium in the past is the Home Owners Association (HOA) fees can be extremely high. And, when you’re looking at a deal you want to make sure that you factor in what those HOA fees are going to be. And something else that you cannot factor in is that a lot of times those can be raised at any time.

So, you want to make sure that you have a lot of variance in there for your profit margin so that if they do continue to raise the HOA fees, can the rent go up accordingly. And normally, there’s nothing you can do about them raising fees. The other challenges are that some HOA’s only allow so many rentals in a complex. So, if you buy the property and you don’t let them know it’s going to be a rental when you try to rent it out they may say that is not allowed, that’s another challenge.

Another challenge when you have a rental property is marketing them in a condominium complex. A lot of condo’s do not allow signs to be placed outside of the complex, so there’s no way to market the property to people driving by or walking by. There are restrictions on getting access into the complex. If you have a property with an agent, maybe it’s a lock box or something they will not have a key to gain access to get inside the property, And, they may not allow agents in there without the owner being present. You want to make sure you know what are the deed restrictions and what you can and cannot do in the HOA covenants when you have a rental property in a condominium.

And, the other problem that I have is you don’t actually own the ground in a condominium. Basically you own a block of air of the condominium but you do not own the ground that it sits on. So, yes it could be cheaper to purchase one but there’s a lot of variables working against you that are out of your control. For that reason, I do not like condominiums that much. Now, there are some areas if you’re down on the coastline where it’s vacation rentals or some place that’s a very high value you can get a lot more rent, but the standard rental that most people would get as a rental property can be quite challenging. So, if you are going to get a rental property just make sure that you’re looking at these factors and you’re getting some information. And make sure you factor that in to your potential costs and your potential expenses.

This is Steve Rozenberg with Empire Industries, if you’d like some help or want someone to help you find a property feel free to look us up online or give us a call.

Thank you!

Is a Duplex a Good or Bad Investment?

System - Thursday, August 4, 2016

Read More +

Hi! This is Steve Rozenberg, I’m the owner and co-founder of Empire Industries Property Management Company located in Houston, Texas.

Today, what we are going to talk about is whether or not a Duplex is or is not a good investment. A lot of investors starting out want to buy Duplexes in Houston. They will be allured by the perceived cash flow and other things, and sometimes they are good investments. However, in my experience a lot of times they turn out not to be so great, meaning what you see on paper is not what you get in reality.

One of the main reasons, one of the first reasons I’ll say is that it is a challenge with duplexes because a lot of properties were built in the 70’s and 80’s. And, because of the oil crisis, they had in the late 80’s early 90’s, they didn’t do any construction. So, when they started building again in the late 90’s, because land was so much more valuable, they really didn’t build many duplexes, if at all. So, because of that the properties are a lot older and aged and because they’re older they tend to qualify as a “D Class” property. So, they’re older properties a lot of times, have different maintenance issues and a lot of times they are in a lower class area. In a lower class area, you are going to have a lower class clientele and when you have that you have different challenges in your business model having that type of client. The first thing is when it’s a lower class clientele you’re going to have the average tenancy in those properties at normally about eight months on low-end properties. You’re going to have higher maintenance costs and when you have a duplex you have close quarters. There is normally a shared wall and when you have that you tend to have a lot of problems with the tenants because you have a close quarter operation. A lot of people don’t normally tend to get along sometimes and one bad tenant can keep the other side vacant. I know because I had a property very similar where we could not fill the other side and finally after about a year and a half of having multiple tenants coming through we realized it wasn’t the property, it was the person on the other side that’s scaring everybody off.

So, it’s just things to think about when you are looking at a duplex and you are seeing potential cash flow. There are factors at least in Houston that you want to factor in. Now, there are some high-end duplexes in nice areas and that obviously is a different business model. Those may tend to be better, but sometimes those maybe a negative tier property, meaning you’re not going to make as much cash flow, but maybe they’re going up in value because it’s a real high appreciating area. So, when you’re looking at a duplex you want to look at the cost for repairs and you want to look at what type of clientele is going to be in there. That’s going be a telling sign as to what the cash flow will be or your return on your investment will or will not be and whether the property will go up in value.

So, hope this helps. This is Steve Rozenberg with Empire Industries Property Management.

Thank you!

Empire Industries’ 12 Month Tenant Guarantee

System - Tuesday, June 28, 2016

Read More+

Hi, this is Steve Rozenberg. I am the owner and co-founder of Empire Industries Property Management and Realty Services. Today we are very excited to announce our rollout of our 12 month tenant guarantee. We realise as investors that our client’s biggest concern is not only placing the right tenant in the property, but also making sure that the tenant pays while they are in the property, for a minimum of at least the next 12 months.

So, what we are doing is; even though we have instituted our very successful 20 point tenant selection process, which as many people know, has given us a 1% eviction rate with our properties; we are now backing that up: that should your tenant vacate within the next 12 months after signing up, we will release that property for free.

So this is an expense you do not have to plan for, budget for or worry about; knowing that Empire is here not only placing the tenant, but guaranteeing that tenant and making sure that we are doing the right thing for you so that you have the peace of mind, and knowing you have the right team on your side.

If you’d like to know more information about this, please give us a call or look us up online and we will be happy to tell you about it.

Thank you very much

How to Increase the Curb Appeal or the Wow Factor of Your Rental Property

System - Tuesday, June 28, 2016

Read More+

Hi, this is Steve Rozenberg. I am the owner and co-founder of Empire Industries Property Management Company, located in Houston Texas. We get a lot of newer investors and some experienced investors that will ask us what is the best way to get most bang for their buck, as far as curb appeal goes, when their trying to rent out their property. And it’s really not as complicated as a lot of people think.

The first thing, think about this: that’s the first impression a person gets when they drive up to look at your property and imagine them and their families living in that property. So, you can never get a second chance at a first impression. So when you drive up to a house, what would you want to see?

Most people want to see, first of all, that there is no trash in the yard: they don’t want to see any trash or debris or anything like that in the yard, that’s the first thing. Second thing is; make sure that you trim all the hedges and trees and there are no limbs lying down, where they have to either walk over them to get to the property or they have to duck down to get to them. Trimmed trees and hedges are amazing as far as wow factor when someone drives up to a property.

Next thing is, obviously, you want to have the grass cut. If it is a place where the grass grows pretty quickly, either you do it yourself, or spend the money to put it on a schedule with a yard person while the property is vacant. Don’t try to save a couple of dollars by letting it grow and be overgrown and you get someone that comes up and doesn’t want to rent the property because they think it’s not taken care of because that’s their first impression.

Some easy things that you can do: you can put mulch in the flower beds. You can get a couple flats of colorful flowers. People love colorful flowers. And I would say the last thing you can, and should do, is power wash the house; make sure it’s clean. Again, power washing is very inexpensive. You can do it yourself or you can hire someone to do it. But it’s just one of those things that give a lot of value. So when people walk up, they want to picture themselves and their family living in this house. And if there is dirty trash in the yard, and limbs and other things there, they cannot always do that.

So, again, make the first impression the best impression. Because then when they go inside and the house is clean, it’s going to make them really want the property. If they drive to up to the house and it’s dirty and trashy they may not even stop. They may just keep on going and you never even got a chance to show them all the money that you invested in putting in capital improvements on the inside of the property; because they never even got out of the car.

If you’d like some more help and like to talk more about this, feel free to give me a call. This is Steve Rozenberg with Empire Industries Property Management Company.

Thank you very much.

Houston Property Management on Why Experienced Investors Use Real Estate Agents

System - Sunday, June 19, 2016

Read More+

Hi, this is Steve Rozenberg and I am the co-founder and owner of Empire Industries Property Management Company located in Houston, Texas. Today, what we are gonna talk about is why is it that even the most experienced real estate investors still use real estate agents when they’re doing transactions. There is a lot of people that have that question, some newer investors always wonder why it is they do that. Why don’t they do it themselves and the fact is that some people and I was one of them in the beginning, I have to admit do not use real estate agents. You think, oh, there’s too much competition, I’m losing cash flows, I could use that to buy more properties, I don’t really need them and you really start to look and you see, why it is some of the more experienced investors actually understand the value of having an agent and what an agent can bring to a transaction. So, let’s just talk about that a little bit. Number one, I would say there’s access. Realtors can provide privileged access to data that you cannot get sometimes if you are not a licensed individual. There are some properties that can only be purchased through realtors and a realtor network and as a regular buyer doing it on your own, a lot of times you do not have access to these properties.

Property searches, you can get a wider net by using an agent and being able to get access to things like multiple listing service which is the MLS and some things that not all investors get access to. A lot of agents can get access to these deals before they even come on the market or as soon as they get on the market they can let them know and the wheels can already be turning.

Negotiations, negotiations is a huge one because when you have an agent, you have that third party power. You can explain to an investor or to another agent that

I cannot do this, I have to find out whether or not the investor wants to do this. And if you’re the one negotiating, it’s kind of hard to use that higher power in negotiating tactics. The other thing to think about is when you’re using a real estate agent, they have no emotions in the deal. So, when you’re looking at a deal, you’re looking at a transaction and it’s time to walk away from that deal because things are not leading up to what they should be. Sometimes investors stick with the deal because they are emotionally tied to it. And when you have an agent involved, a lot of times you don’t have to worry about it being emotionally tied. Reaching Buyers, agents have a very large established network of buyers. And sometimes, you can’t find them on your own. Other times, you can use the agent to help you find these networks of buyers and be able to find deals. Again, it doesn’t come on the market, never comes on the market, because they go to these agents first and the agents will send them to their buyers list before they even hit the open market.

Liability, liability is a huge issue when you’re dealing with investment properties. There are so many laws and legal obligations as an investor that you have to comply with whether it’s just ticking a certain box for example, having a seller’s disclosure filled out correctly, filling out the contract right or making sure who is paying for what, because sometimes maybe in some states, the seller pays for the title policy, in other states the buyer pays for the title policy. So, there are certain things that you may not understand that the agent does know, by being an expert in that area and it’s just you’re limiting your exposure and you’re limiting your liability is what you’re doing by using an agent.

Marketing money, I can tell you that agents have the ability to market, because they market so many properties. For example, we get about 1,000 phone calls and internet inquiries every month on our properties and because of that we can market a lot quicker than most investors can, because we may lease 30-50 properties every single month. While the average investor may lease one a year. So again, we as a property management company have real estate agents. We have a larger volume that we can do and we may be able to get the property leased maybe 2-3 weeks sooner. As an investor that means you put more money in your pocket sooner. So again, that’s why marketing is huge when it comes to using an agent and using the power that their marketing has.

Sometimes the advantage of using a real estate agent is just having extra people there. You can bounce ideas off of the real estate agent. Is this a good idea, is this a bad idea, based on your information. For example, let’s say you’re on a subdivision with a house and you’re wondering if you should put Formica Countertops or Granite Countertops. Well, they may know looking at that, that you may be able to utilize them from their experience to answer those questions. Also, you’re gonna be able to answer leads quicker. If you’re maybe working at your regular 9-5 job and you don’t have time to meet that tenant to lease your property, who’s gonna do it? You’re gonna lose the lead. But, if you have a real estate agent that agent can be there to lease your property and hopefully get the property leased.

So, if you are working with an agent and you are looking for the right investment property, they can help you. If not, feel free to look us up, we will be more than happy to help you find a property that fits your needs. We are a full brokerage. Empire Industries Realty and Property Management Services will be more than happy to sit down and discuss with you what does and what does not work.

Call today! We’ll be more than happy to sit down and give you a free one on one consultation. I’ll be happy to talk to you and see what is the best property that fits your business model.

Again, this is Steve Rozenberg with Empire Industries Property Management. Thank you!

Houston Property Management on The Best Way to Market Your Rental Property

System - Sunday, June 19, 2016

Read More+

Hi this is Steve Rozenberg, I’m the owner and co-founder of Empire Industries Property Management Company located here in Houston, Texas. Today, what we are going to talk about is “what is the best way for you to actually market your rental property?” There are so many different ways that you can do this. A lot of people get confused and they end up doing nothing because they’re not sure which way they need to go.

So, understand this, there are a lot of ways to do this and a lot of people will use paper ads. I think that is kind of a little bit of old school mentality and I don’t think that necessarily is going to work in this day and age. I don’t know of many people that even get the yellow pages, let alone look at the newspaper for stuff. I have notice that newspaper ads, I guess because people do not use them that much they become more and more expensive which is almost furthermore isolating them from the mainstream industry of marketing your rental property.

Even some online tools like Craigslist, Postlets, some of those things are all even becoming outdated. People don’t use those that much because things have evolved and the industry has evolved and a lot of times what worked before even one, two years ago doesn’t work now. I think that when you’re targeting a type of client you have to be very specific and you have to be very strategic. Not even basic MLS is going to get you to finding that client if you just throw it up there and wait and hope that they find your property.

So, one of the things you have to think about is you have to get in front of your client. You have to think where is your client, where they are going to be looking at your property. So for example, if you’re in a city like Houston you may want to market your property in other countries. When ex-patriots are moving in to the city, that would be the thing to do because if they’re moving in to the city, they may be looking at it on the website that’s on another countries site.

So, something to think about, 2015 statistics states and people don’t realize is that there are 3.2 billion Internet users right now. There are 1 billion Facebook visits every single day. Okay, 6 Billion hours of YouTube are watched every single month. Three hundred hours of video are uploaded to YouTube every single minute and there are 100 billion Google searches every month. In the last 2 years, 90% of the world’s data has been uploaded to the internet just in the last 2 years alone. You think about that, so if you’re marketing techniques that worked 2, 3, 4 years ago you’re probably outdated, and you really have to think about where is the place that you want to market, where do you get to the people and get in front of them. We do a lot of SEO marketing with Geotag and with Metatag. We do a lot of videos and if you’re going to our website, you’ll see tons of videos because that is where people are attracted to and it comes up on the search engines. So, you may want to think of doing those things when you are trying to market your property.

If you are working with an agent already and you’re looking to buy a house, feel free to utilize them and then come to us for property management services. If not, we do have specialized investor real estate agents that can help you find a home. If you would like, give us a call. You could talk to either myself or Pete at any time and we will be happy to talk with you about your investing strategy. Call today! Thank you very much!

Houston Property Management Company on What Landlords Consider True Maintenance Emergencies

System - Sunday, June 19, 2016

Read More+

Hi, this is Steve Rozenberg and I am the owner and co-founder of Empire Industries Property Management Company located here in Houston, Texas. Today, what we are gonna talk about is, as a landlord, what do you truly consider to be a maintenance emergency. This is something that plagues investors all the time. They don’t know when is an emergency, when it is not, when do you really have to take action. I think, first and foremost you really want to set the expectations correctly in the beginning that things are going to break. You have to understand that as a landlord and I think you want to convey that to your tenants, definitely things are gonna break. Things are gonna happen and you want to make sure that they realize that there’s a difference between something that breaks that can wait and something that is an emergency that has to be fixed immediately. So, I think setting the expectations in the beginning is first and foremost, the most important thing you can do.

Next, you want to really understand what truly is an emergency. There’s obviously things that we feel are definite things that get our attention that we know they’re an emergency. Very easily, its gas, electric, and rushing water, any of those 3 things along with something that will make the house unsafe or uninhabitable to us is considered an emergency. And that’s how we operate our business model. That something that can actually hurt someone I guess is a good way to identify that.

So Gas emergencies, if a tenant complains of gas I recommend you get there and respond very quickly. Either you call the gas company and you explain to them how to shut off the gas line at the main. You get over there and find out what it is. The first indication of all these things is shut off power to the source of what’s going on. So, if it’s gas, its water, it’s electric there are shut off valves for these things. Shut it off immediately. That’s what you want to convey to your tenant. So, a lot of times gas can happen as a pipe rusts. And all of a sudden, it breaks. Maybe somebody ran it over with a lawn mower or something like that. So, whenever you smell gas, it’s definitely important to get over there and identify what it is.

Electrical emergencies, these are slightly different. Not all electrical problems are emergencies and sometimes they might just say the power is out. While the power is out, the first thing we ask them is, is the power out in the whole block? If the power is out in the whole block, then there’s nothing anybody can do. Right? So, you want to make sure that they understand that the power being out in the whole city is not something you can do which really is not an emergency. There is nothing anyone can do when it’s out. Now, if the power is out in a certain room then maybe more explaining to them to go trip the circuit breaker and reset it may be in order. And, if that is an option then again, that’s not an emergency but you want to educate them so that they understand. If there’s a smoking outlet or something smells like burning wires, to me, that is an emergency. That’s when you explain to them, shut off the electrical main and we’ll be there immediately. We’ll have someone dispatch to get over there and fix the problem or at least look at it.

Water emergencies. Again, it’s the thing that scares me the most because water can do a lot of extensive damage. You let water drip for a long time or you let water rush through a house, meaning a washer-dryer machine, a pipe breaks, or under the sink breaks, or a hot water heater leaks that can have a large multiplication of mold and other things. So, water has a lot of long reaching effects that people don’t realize when not fixed immediately. The repercussions can be huge and it could cost you a lot more money. So water, to me, above all else is an emergency. Especially, if it’s rushing water. Rushing water, shut it off at the main and then get over there and ascertain the damage to it.

Obviously there are other emergencies, like backed-up sewer lines, or lack of heat or roof leaking. Those can be construed as emergencies. Some of those things, if it’s not making the house unsafe or uninhabitable then it could be something that maybe between 24-48 hours you’ll get someone out there as long as the house is still safe and habitable. Again, it depends on the severity of it, it depends on what it is.

Non-Emergency, generally things that, you know, get placed on a lower task list and they need to realize what a non-emergency is. We explain to the tenant that yes, if it’s an emergency we will be out there and take care of it. If you call our emergency hotline, which is manned 24 hours a day / 7days a week and it is not a true emergency, we are going to charge you a non-emergency fee because you are wasting staff time on something that’s not an emergency. When you move into our property we give you a list that explain what is and what is not an emergency. So again, we try to educate them but we also let them know there are repercussions if you are sending our staff out there for things that are not truly emergencies.

This is Steve Rozenberg, If you’d like to talk to us, we’ll be more than happy to talk to you about finding you some properties and see how we can help you. If you’d like to talk to myself or my business partner personally about what your situation is and how we can help you find some investment properties or at least start your investing career.

Please feel free to give us a call or look us up online. We have a lot of videos on our website. We’d love to help you out. This is Steve Rozenberg with Empire Industries. If you do call us, we will give you a free one on one consultation to help you out. This is Steve Rozenberg. Thank you very much!

How Do I Know if this is a Good Investment Deal or a Bad Investment Deal?

System - Monday, May 30, 2016

Read More +

This is Steve Rozenberg, I am the co-founder and owner of Empire Industries Property Management Company located here in Houston, Texas.

I get a lot of people asking me what are the main reasons I should or should not invest in a property. How do I know if something is or is not a good deal? I get a lot of people, that when they’re new investors they may say that this is a bad deal, because it loses money. And, when someone says that, I’m thinking that maybe they’re not as educated in the investing world and they may need to learn a little bit more about investing and what true investors look for, at least from my perspective.

So, I’m going to explain really quickly what some of the definitions are of what you should and should not buy, and why, and look at investing maybe a little bit differently. So, I think that there are 5 reasons that make a good investment and if an investment matches your business model and some of these 5 things cross then it may make sense to continue on the acquisition.

So, for example, let’s say the first way is cash flow. You buy property and if it cash flows that maybe a reason that you’re looking to buy the property. And again, it’s just a parameter and it’s just an indicator. So, let’s just say for example we take a $150,000 home and it’s going to cash flow a couple hundred dollars a month. Now, what I think a lot of people do is they stop right there and that’s their determining factor whether or not it is or is not a good deal. And, I think it’s kind of looking at one piece of a huge puzzle and what I mean by that is there are 4 other parameters that they are not taking into account.

\So, the next thing is, let’s say what the house is worth in Houston, it’s worth $150,000 and their buying it for $125,000. So, basically when they sign on the dotted line, they’re going to make $25,000 in unrealized capital gain. So, it’s not realized money, they don’t get it and put it in their pocket, but it’s there in value. It’s worth $150,000 and they bought it for $125,000 so, the value was there is called equity capture. They’re capturing that equity by signing a piece of paper and signing the contract they are essentially making $25,000 that is there for them in the future.

The next way, is if you look at that house over the course of 30 years. Let’s say you own that property with most investors they do own these for the long term, if you look at that house over the course of 30 years; a $150,000 house with simple appreciation could be worth upwards towards $400,000. So, in 30 years $400,000 from 150,000, $125,000 is a pretty good appreciation for an investment that you have. Something to think about is when it comes to this appreciation you did not put $125,000 down when you made this purchase. You probably put 20% down. So, if it was $125,000, you probably put $25,000 down. So, you put out of pocket $25,000 and this investment is now worth $400,000. The people that loaned you that money, normally it’s a bank. The bank says we will give you the other $100,000 and all we’re asking for in return is $100,000 back in 30 years with a small interest rate fee of let’s say 5%. They’re not asking for the appreciation growth, they’re not asking for any of the equity, they’re not asking for any of the cash flow. They just want their principal amount back. I don’t know of many other investments where you can be that highly leveraged and make that work. So, you have appreciation.

The next thing you have is, you have a tenant in that property that will be paying that mortgage debt down to zero. So, you put $25,000 down on 30 year note with a tenant in there. Now, obviously you’re going to have some vacancy time and some maintenance. But, essentially that house will be paid to zero and someone will pay that debt down for you. So, you have debt paid down.

And, the fifth and final way that you make money on that is you get to depreciate the property. No, I’m not a tax accountant. I’m not giving tax advice, but I’m letting you know that there are tax advantages for real estate investors that you can take advantage of by being an investor.

So again, when someone tells me that a deal doesn't make sense just because there’s no cash flow, I don’t think that they are looking at the full picture and let’s say a house rents for $1500 a month and they’re making $50 a month; well I think when that house after 30 years now is worth $400,000 the rent is not going to be $1500 anymore. The rent will probably go up in value with it and it will be worth more than what it was when it was worth $150,000 and people don’t take into account those things. So again, when you’re looking at an investment property, I think it’s important that you look at the full picture when making an acquisition and not just one piece of a puzzle.

If you would like to know more and like to discuss this with me, I’m always here and available. This is Steve Rozenberg from Empire Industries Property Management and Realty Services.

Thank you.

What Is the Best Price to Rent My Home For?

System - Monday, May 30, 2016

Read More +

Hi, this is Steve Rozenberg and I am the co-founder of Empire Industries Property Management Company located in Houston, Texas.

Today, what we are going to talk about is a lot of people always ask me how much they should lease their property for when they’re going to lease it. Should they be the highest price? Should they be the lowest price? Or somewhere in the middle? I think something that people have to remember is if they do lease their house and they list it at the highest price where there is a lot of properties for rent, it could sit a lot longer depending on price and demand. So, if you’re the only house out there that is available, then obviously you could get more for it or if there’s a lot of houses out there it could sit longer. And something to think about is that the longer your house sits, as an investor you are never going to get that return back. It’s going to take a lot longer to make up that lost revenue.

So, for every two weeks that it sits vacant you lose about one percent of revenue over the course of the year. Now, if you’re too low you could have obviously rent it too quickly in a sense that you’re giving up a lot of potential revenue and cash flow that you could be making. My personal opinion is we like to rent the properties right in the middle or if not just a little bit below the middle of average rents, because we want to make sure that it moves quickly and we want to make sure that people realize they are getting a good deal. They’re not stealing the property away on a monthly basis, but they’re not overpaying because if people are overpaying it could sit vacant. And, if they do rent it then they’re going to feel that they’re being taken advantage of and then they may not renew the lease.

So, again my opinion is I would suggest if you’re trying to figure out where to put your price point, is find out pricing demand. How many homes there are for rent in the area? See how many days on the market they’re sitting and then go from there. And, I would say starting in the middle and going from there is probably a good starting point if you have lack of data.

Again, this is Steve Rozenberg from Empire Industries.

Thank you for watching.

When is the Best Time for Me to Buy a Rental Property?

System - Monday, May 30, 2016

Read More +

This is Steve Rozenberg, I’m the owner and co-founder of Empire Industries Property Management Company located here in Houston, Texas.

Today, what I would like to talk about is, a lot of people are asking me whether or not they should or should not get into the market to buy rental properties and if this is a smart or unsmart thing to do. What I suggest is, first they need to understand what their business model is and what kind of properties they are looking to buy. What I mean by that is, if they are looking to buy something that is going to have a lot of appreciation then this may not be the best time. If they’re looking for something that they are going to be able to buy with a lot of equity and be able to rent it out at high demand then this is definitely the time to buy with the caveat that depends on where you buy.

So, a lot investors will ask me, you know, when they have a deal, does this deal fit? Is this a great deal? And it depends on what their business model is? So, it really depends on what it is you’re trying to buy? What your business is? And what the business model is that you’re trying to get? So, if you’re looking for something that’s going to go up in value 3, 4, 5 times, double, double, double, then this may not be the proper time to buy something. If you’re looking for something that maybe is going to have steady appreciation then you’re going to be able to rent it because there’s a lot of renters in the market due to the economy and you can command a higher price for your rental. Then, obviously this is the right time.

I think it’s a very very good time to buy properties. Right now, I’m actually getting involved to re-purchase properties. I have not bought anything in the last 3 years and the indicators of everything I’m looking at is showing that it is the right time and it is the time that maybe you start getting back and re-engage in an acquisition. So, again, it depends on what it is that you want and nobody knows that answer except yourself.

If you would like to give me a call or talk to me, I’ll be more than happy to go over and kind of talk to you about some scenarios and see what is the best case scenario for you and come up with some possible solutions to help you identify what is a good deal, what is not a good deal based on your business parameters and your actions.

If you’d like to know more information please give me a call. I’ll be more than happy to talk to you. This is Steve Rozenberg with Empire Property Management and Realty Services.

Thank you.

Showing 1- 10 of 36