National Realty Investment Advisors Shares Tips on Building a Successful Real Estate Business
One business of perennial interest to people of all walks of life is real property investment.Even regular wage earners can buy and own investment property to add to their savings and retirement nest egg. People do make investments for different purposes- Entrepreneurs invest to increase business returns and create portfolio income; Government workers invest so that they can rely on an alternative source of retirement income apart from pensions which, in many cases, are not substantial. Even landlords invest in more properties just to have larger tenant bases. In any situation, real estate still remains a lucrative business venture and National Realty Investment Advisors focuses on helping clients of all different types build wealth portfolios through rental real estate ownership primarily in the Philadelphia, Pennsylvania area.
How Does National Realty Investment Advisors Help Clients Looking To Invest In Real Estate?
National Realty Investment Advisors, a property investment company in Philadelphia was founded in 2006 by the Grabato Family and it focuses on building completely new quality investment properties for its constantly growing client base. One of the testimonies of hiring NRIA is that clients, within their first year of investing in their properties, realize a return on their investments. Another plus is that they are also guaranteed rent payments for their mortgage through high quality guaranteed tenants. NRIA and its property managers guarantee tenants for your property. National Realty Investment Advisors operates with the philosophy that their properties,which have been completely built from high level new construction and revitalize addvalue to their prime neighborhoods while doing not only their clients but also the city of Philadelphia a favor.
So, the question is, how do they do this?
With a low cash-in deposit on your part, NRIA locates, contracts, controls and manages the whole project which usually starts from undervalued land. The end result the client gets to obtain a completely ready-to-rent property. Even better, they obtain this beautiful property at a price deeply below market value because of the NRIA purchasing system. Now that’s an investment to look into!
Want to Start A Real Estate Business? Here’s What National Realty Investment Advisors Says
There are many things to consider before going into real estate investment. This is because ignorantly going into the business, especially when you’re a fish out of water, might cause you to incur huge losses – if operating by yourself without professional guidance. Yes, there’s money to be made in this investment opportunity, but don’t neglect the fact that people also lose out. So, here are a few tips that NRIA has for you:
1. Be Careful of the Location: According to National Realty Investment Advisors, “The first thing that a real estate investor should consider is location”. This is pretty obvious in concept as you, the investor, would want a ready market for your property. However, obtaining quality properties in really good locations is more an art form than science. The first place to look at before purchasing a property is the surrounding neighborhood and sold comparable homes nearby . NRIA advises that your property should be preferably belocated in a well-established high value neighborhood surrounded by nice homes, near shopping and not far from a public transportation center. The ease of shopping, parking, and closeness to entertainment centers (cinemas, restaurants, parks, walks, orgalleries) would also be a plus.
2. Don’t Spend Too Much Money on Your First Property: It is common for new investors to spend a lot on renovating and improving their first property. However, NRIA cautions that only amateur investors who plan on getting no return on investment do this. Renovations andContractors must be selected, planned, bid, and re-bid very extensively to figure out the best way and lowest cost to finish each property. The key here is to focus on specific sections in the house that add value to the home and do the bidding planning WORK! National Realty Investment Advisors believes that property investors should “select the right combination of finishes for their property that will maintain rents, and that will last, being that homes will eventually wear out.” Some sections to focus on are kitchens and baths. Even better, get your costs so low you can build everything new because you know how to bid and control construction costs.
3. Be Careful of Bad Tenants:Of course,real estate investors rent out their property homes to tenants. While this is a wise thing to do, it has caused many investors heart aches due to the caliber of tenants they rent their properties to. National Realty Investment Advisors recommends that investors never rent to anyone with a bad credit history. To this effect, it is necessary to run a credit check when screening your tenant, including reviews of bank statements and references from past landlords. This will prevent any surprises with respect to payment of rent in the future.
NRIA also advises investors to put every form of agreement in writing in a Lease as this is just good business sense. It prevents any misunderstanding or deception that may rear its ugly head in future.
Real estate investment just got easier with expert advice from NRIA. The experts at National Realty Investment Advisors ensure that clients get real value on their projects with complete “hands free” professional management so they focus on them first. For those who “DON’T want to DO IT THEMSELVES" NRIA guarantees effective service and prompt return on investment. As a new investor, what else do you want?