Turn your tenants into buyers!

With the housing market being in the state that it is in, you could still survive by thinking outside the box. 

Learn about leasing and managing properties. Imagine the possibilities! An apartment building with 30 units - those are potentially 30 prospects that you can eventually help purchase a first-time home. You will be in constant contact with these people, so you will have plenty of time to build a strong, positive relationship and tell them all about your services as a real estate agent. Of course, you will need to re-lease the apartment after the old tenant purchases a home from you, but think about it - You will get paid twice (once for the purchase as the buyer's agent and once for signing a new lease for a new tenant to fill the vacancy)!

Of course all this will take some time to acquire all the necessary knowledge to be a good property manager. You have to be familiar with all applicable local laws, such as Rent Control (if applicable to your area), dealing with difficult tenants, proper tenant selection, the eviction process etc. But I believe that it will be time well invested and money well spent, especially if it will help you survive a slow market. Don't you think?
 

1 Comments on Turn your tenants into buyers!

Welcome to ActiveRain!

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Troy Trumm

02/29/2008 10:17 PM by


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Property Manager: Mina V Garrey - Commercial Capital Properties, Los Angeles, CA (Commercial Capital Properties)
Mina V Garrey - Commercial Capital Properties, Los Angeles, CA
West Los Angeles, CA
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