Have you been back and forth on becoming a property manager or focusing on real estate investing. Many people find property management to be fulfilling, but demanding. Real estate investing can turn large profits, but finding the best property can be challenging.
Real Estate Career Path
For those seeking out real estate, plan on having a lot of flexibility and being able to set your own work hours. Many real estate professionals find it to be a rewarding career path as they can make a great deal of money right away. Real estate professionals can work from home, and have control over their work load. Real estate agents can choose to be independent, or they can work with a company.
Successful real estate agents can start with smaller properties and move into higher-income real estate, which promises higher commissions. Real estate agents do not have a set limit on how much they can earn as it is up to them and how hard they work and are able to close sales.
While real estate agents have a lot of things to enjoy, there are some downsides to being a real estate agent. While you will have flexibility, you do have to work around your client’s schedules. Some buyers will want to walk through properties at dinner time, others will want to go first thing in the morning, on weekends, etc. You must be flexible to the buyers needs in order to focus on closing the sale. It is important to learn as much as you can with each property in order to effectively sale it. You need to know the demographics of the area, schools, and more. Buyers want to know everything and they expect their real estate agent to have the answers.
Property Management Career Path
Individuals seeking a passive income find property management to be a rewarding career path. Unlike real estate, property management offers a reoccurring income and not just one-time payouts. Property managers will work with tenants who lease their property, or they can choose to work for a larger property management firm. Property managers normally need to obtain their real estate license.
Unlike real estate, property management comes with more of a standard schedule. Typically property managers have a task list of items they need to do on a daily basis in order to keep their tenants happy. The work/life balance provided with property management is preferable to many people looking for residual income.
Property owners often seek out property management companies to assist in managing their property, allowing them to generate income from these services. The industry has created several jobs in property management, and many people have found it to be a rewarding and stable career path.
Keyrenter Property Management Chicago North, MI, provides residential property management services to landlords of single family homes, duplexes, condos, and small multifamily units. We are not large apartment managers. Our purpose is to help landlords maximize the return on their investment property while eliminating the stressors associated with being a landlord (including bad tenants and maintenance issues). Services we offer include: property analysis, setting rent, tenant placement, leasing services, maintenance coordination, tenant relations, property inspections, rent collection. We offer superior customer service. Because we know how to find quality tenants that can meet the terms of their lease agreement, using Keyrenter’s 14-point tenant screening process, our eviction rate is below 1%.