Hunter Estess, president of Estess Contractors, and other renowned real estate investors and developers, know that excellent property management is needed to successfully operate multiple residential and commercial buildings. Property management is sometimes handled by an owner or landlord alone, and sometimes by a larger company altogether.
Property management companies can be helpful for the right developer and investor, depending on individual situation and circumstance. A property management company takes care of tenant and leasing issues, rent collection, marketing property, attending to maintenance and repair, and addressing tenant problems and evictions. This type of company can be beneficial for a property owner who has too many properties and units for one person to manage, who isn’t keen on hands-on management, and who lives too far a distance from the properties in question. Hiring a property management company may also assist owners who have limited time for their properties, and who can afford the price that this type of company costs.
Real estate investors and developers, like Hunter Estess, recommend caution when deciding to hire a property management company. Property owners should do their research, contact local apartment associations for referrals, and get company recommendations from colleagues in the field. Resources like the Institute of Real Estate Management and the National Association of Property Directors have online directories of certified management companies. Above all, the property owner should thoroughly interview the property management owner and get all questions answered before signing any contracts or giving the company access to any properties.
Successful and talented real estate developers, like Hunter Estess of Dash Development and Estess Contractors, are the heart of what drives the real estate industry. Developers purchase property with the plans to construct upon it, either for residential or commercial purposes. Reliable developers have the proper experience and education to engender the trust of both their customers and their workforce in order to create new developments.
Real estate developers often begin their careers by purchasing property to build and improve on, then selling the property for a profit. After succeeding in the manner for a time, they may build up enough capital to make connections and work with top construction and development companies on larger building projects. Some developers may have started out in construction in the first place, before doing well enough to create their own development teams.
Developers like Hunter Estess must be properly educated in their field. Planning, architecture, and law are all degrees that can be pursued before starting a company. Other professionals may complete graduate degrees in areas such as Master of Science in Real Estate, a Master of Real Estate Development, or an MBA with a concentration in real estate. Estess and other developers also have the necessary skills to be successful. Analytical, financial, interpersonal, marketing, and organizational skills are vital to be a profitable developer. Of all these skills, the financial ones are the most important as developers must make sound choices when it comes to financing, purchasing, developing, and eventually selling their properties for gain.
Real estate investors and moguls, like Hunter Estess, owner of Dash Development and Estess Contractors, made the right decisions when investing in land and property. Individuals who are new to real estate investing need to carefully examine all options and invest wisely in order to create a secure financial future.
There are two possible choices for the person considering real estate investing: direct ownership, or purchasing shares in a real estate syndication. Direct ownership involves the purchase of income property, oftentimes with the owner’s intent to live in one unit of a multiunit complex. Investors like Estess advise individuals to do diligent research before buying and be sure to find a fair deal on a repair-free building that will turn a profit. Investors need to be aware that this option can be time consuming and costly due to laws, fees, and regulations involved with owning rental property.
Purchasing shares in a real estate i syndication is very different from actually owning real estate property. For the new investor, this approach is similar to buying stocks with multilayered values. The primary values originate from the real estate property are, the cash flow, the mortgage pay down, and appreciation of the property.on,. Purchasing shares in a real estate syndication can add to an individual’s portfolio, but the investor should be aware that investment performance is derived from the sale of properties and direct cash flow. Many successful real estate investors, such as Hunter Estess, recommend that individuals considering dabbling in real estate investment familiarize themselves with all aspects before buying in.