I do not believe ! Once again there is a correction
What has not already been said about management companies,
And on the relationship between the investor / entrepreneur and the management company.
As a U.S. Property Tax Owner,
And as a real estate developer in the US for over 8 years.
From my personal experience, one of the most challenging and difficult things
Is the conduct in front of the management company.
There are quite a few factors that will differentiate between
Great success or a jarring failure for a project.
And why am I even telling you this?
Because that's a super important point
And critical to the success of the project.
- It is possible to buy a property at a great price but problematic management will cause us a loss.
- It is possible to buy a property at a problematic price and good management will reduce our damages.
And here are some of the things:
- A good relationship
- Full transparency is a very important thing
- Communication and coordination of expectations is a critical component
- The management company's reports should be structured and transparent,
In order for us to understand what the challenges / corrections are in the project
- and more ...
Good relationship with the management company -
Real estate is done with people
And not with walls or properties.
When the quality of the relationship is a good relationship
So you can do things together,
Reflect on the challenges or corrections there are
In the property, which makes it easier to execute.
transparency -
Sometimes the relationship with the management company is good,
But there is not enough transparency.
And it can happen for many reasons -
Because whoever is actually running does not
Really understand that things need to be reflected.
Because it's clear to them that we trust
On them and there is no need to report such a resolution.
Because they thought it was not important enough
Report the problem that was.
And more ...
Communication -
Or rather - lack of communication.
It can be caused in many ways.
As in any relationship,
Between spouses / businesses,
And in fact in any connection.
Communication is a component
Very important in the success of the relationship.
Communication can cause a connection
Be a huge success,
And it can cause jarring failure.
The emphasis is on coordinating expectations
And in creating real and honest communication
Among them all. That's how everyone knows
What does the other side expect from him,
And the media contributes to success
Of the project.
Management Company Reports -
Has it ever happened to you too
That you looked at a report that was sent to you
And you asked yourself
What the hell is the report saying?
It happened to me that the management company sent me
The report and reward I did not understand anything.
He was all all complex and burdock,
Schwala I sat for hours to understand
The structure and the numbers
So I can reflect on them
In a simpler way for my investors.
With clear reports,
One can understand the trend of
Profit, while examining:
The expenses - for what we spent the most money.
Revenue - Have we raised enough money.
And is it possible to make more money from other sources, and more…
your,
Gilad Oz,
All rights reserved to
ROInvest LLC
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