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| CALL US TODAY! To ask what Metropolitan Real Estate Management can do for you or visit our website for more information. www.MetropolitanManagement.com |
Primary Responsibilities of Owning Income Property
- Maintain the property-perform routine
maintenance, make necessary repairs and
renovations
- Hire and supervise contractors, service providers
and other professionals
- Attract tenants-advertise vacancies, develop
creative marketing material
- Federal law requires that you disclose known
information on lead based paint hazards.
- Proper accounting of tenant funds
- Respond to tenants needs and complaints
- Collect rents-pursue delinquent rents, follow legal
procedures to evict tenant if necessary
- Negotiate and prepare new leases, negotiate and
renew existing leases or terminate tenancy
- Pay expenses and prepare operating budget
- Keeping the property adequately insured-contact
Insurance Agent for more information.
There is certainly the potential for extra income,
especially when your mortgage loan has been
paid off. It is very important to maintain your
property in a way that meets the standards of the
insurance company, the Fire Department, the
Health Department, and requirements of the lease
agreement.
The day to day operations of owning income
property may sometimes seem like a full time job.
It's more likely that it just takes time away from
your full time job or other activities that are
important to you.
Primary Objectives of Owning Income Property
- Generate additional source of income
- Create a passive source income
- Supplement existing retirement accounts
- Increase overall net worth
- Income tax savings - deductions and credits
- Positive (hopefully large) return on your investment
| Determine Cash Flow Gross Rental Income + Miscellaneous Income = Effective Gross Income - Operating Expenses = NOI (Net Operating Income) - Debt Service = Cash Flow (cash remaining) |
Real Estate is a very popular investment. A person may choose to
purchase property as an investment for any number of reasons.
Having plenty of free time and not enough responsibility is perhaps
the least common.
purchase property as an investment for any number of reasons.
Having plenty of free time and not enough responsibility is perhaps
the least common.
This is probably one of the most common reasons a person will
employ the services of a Property Manager.
In the future you may choose to add to your Real Estate portfolio.
You may have received information about another investment
opportunity from your Property Manager or Real Estate Broker.
You may have a chance to purchase a property from a relative,
friend, or co-worker. How many investment properties should one
person have? It certainly depends on the person, but for some Real
Estate is a primary source of income.
All Metropolitan Real Estate Associates are actively investing in
Real Estate and continue to believe it is a good choice.
Metropolitan Management offers a wide variety of services which
will meet all of your investment and property management needs.
employ the services of a Property Manager.
In the future you may choose to add to your Real Estate portfolio.
You may have received information about another investment
opportunity from your Property Manager or Real Estate Broker.
You may have a chance to purchase a property from a relative,
friend, or co-worker. How many investment properties should one
person have? It certainly depends on the person, but for some Real
Estate is a primary source of income.
All Metropolitan Real Estate Associates are actively investing in
Real Estate and continue to believe it is a good choice.
Metropolitan Management offers a wide variety of services which
will meet all of your investment and property management needs.
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| METROPOLITAN REAL ESTATE 872 MASSACHUSETTS AVENUE, SUITE 2-8 CAMBRIDGE MASSACHUSETTS 02139 PHONE: 617-547-9559 FACSIMILE: 617-876-2216 |
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Recently, there has been an influx of people buying Real Estate and
an even greater number of service providers coming into the field
in hopes to take advantage of all this activity.
People who have little, or no experience in investment real estate
have a different perspective than those of us who are actually
investors. Always consider this when choosing your professionals.
an even greater number of service providers coming into the field
in hopes to take advantage of all this activity.
People who have little, or no experience in investment real estate
have a different perspective than those of us who are actually
investors. Always consider this when choosing your professionals.