Real Estate Investment Properties: What You Need to Know

Owning investment properties can be rewarding. In fact, statistics show that more people have become millionaires by owning real estate than any type of investment.

For first time investors, the process can be intimidating. After all, there’s a long list of due diligence items that need to be investigated to determine the property’s physical condition and lots of numbers to crunch to determine if the investment’s projected return meets or exceeds your requirements. That’s why it’s important to have an expert on your team who can help you navigate the investment process by making smart choices and avoiding costly mistakes.

For many of my clients, it makes sense to manage their own properties. These are folks with the time and energy to collect rent, screen tenants, write leases, deal with repairs and maintenance, etc. For others, hiring a professional property manager is the smart move.

Either way, if you manage the property yourself or you have a property manager, there are several legal issues to be aware of.  You don’t want to be tripped up by a street savvy renter and you don’t want to get into trouble by just not knowing what the legal rights and requirements are.

I found some excellent information on the Real Estate Center at Texas A&M website. Part of my Realtor fees fund the Center and its research on real estate in Texas and in many specific markets. With an attorney, they have developed the Landlord’s and Tenant’s Guide to help you understand the various rights and requirements of the landlord / tenant relationship.  There is a thought provoking quiz to help you get started and you can download the guide for FREE.

As always, I’m available to help you with your questions and real estate needs.

Click here for the quiz and guide