Steps to Buy Part #3 Property

Check List of Steps in Acquisition of Property - Part 3 of 3.

The three videos are primarily intended for novice investors.

At the end of every meeting with an investor, after the decision had been made
And want to move forward and do business, the first question:
What do you do from now on ?!

So we decided to make videos to explain the steps
From the moment there is a decision on a deal until the deal is working
With a tenant inside.

Highlights of the video:

9. Now is the time to choose a management company.
If you work with an entrepreneur, then you will get recommendations from him,
If not here's a new product just for you!
Recommendations (we talked about this in another video).
After you sign a contract with a management company, it will begin
Look for tenant property. Sometimes during the renovation company
Management can start working, but not always
this is the situation. Sometimes they prefer to wait for the end
And do Showing Asset.

10. Choosing a tenant for an asset.
The process of finding a tenant for an asset can take time.
Depending on the region's level of demand for salaried employees, depending on the seasons
And depends on the type of population we prefer to our property.

In our area we can within a day find a tenant, but we are
They do not want any tenant, but one that fits the criteria.
The management company will do a screening for every potential tenant.
The process includes: monthly income, work place,
Does it turn from previous homes, does it have a record of crime and more?
Usually a management company will take a two-month deposit
From the resident, like Israel ... in case we do not have to
And after all this, a final date for the entry of the tenant will also be closed.

11. Transfer to the management company bank details for the transfer of NIS.
You can determine with them that every month or two or quarter are
Will transfer the money. Recommend talking to an accountant to decide on
The right choice for you to pay as little commissions as possible.

It's important to take into account from the moment it is that there will be problems.
As in Israel, so in the United States, there are sometimes necessary glitches
Take care of them and they cost money. So I personally register in the table
The hoch in a deal A certain% of the annual rent goes to hoch maintenance.
How to behave properly with a management company on this issue - we shot a separate video
And it was published in the forum.

Hope you received added value.
Albert and Jonathan choose real estate.