Peter Bubel+ by | Feb 13, 2017 | Peter Bubel, Property, Property Management, Real Estate
Real estate is one of the safest of all investments. An investment in real estate is an investment in something that is likely to retain value and even grow in value. However, investing in real estate can be tough. Unlike some other forms of investing. investing in real estate means being active and hands-on. Many people who buy properties find that they may not have quite the knowledge they need to make sure their investments remain stable and in good shape. This is why so many investors find it helpful to turn to a property manager. Working with a property manager has many advantages.
Tremendous Expertise
Some people come to the field of real estate with many years of experience in the field. Others, however, do not have the same understanding. In that case, hiring a property manager can provide them with access to such expertise. A property manager typically knows exactly how to accomplish certain tasks such as investigating a tenant properly. The real estate novice may lack this same skill. Whey they may have a rudimentary idea of how to do the basics, they may not be sure what to do in the event of a tenant who isn’t quite up to the standards they’ve set for the property.
Working With Tenants
Another area where a property manager can really take the stress out of real estate investing is that managing the day-to-day activities of tenants. If something goes wrong late at night, the real estate manager can instantly confront the problem. A real estate investor may live far away from the property or even in another state. A real estate property manager will typically live onsite or at least a short distance away. This allows them to speak with tenants directly and find out the source of the problem immediately.
Local Court System
Evicting a tenant who is be behind on the rent can be tough. A real estate owner may not know where to start. A skilled real estate property manager will know exactly how to help. They know what the laws are in that state as well as the tenant’s rights. Many property managers also have access to real estate lawyers on hand. The real estate lawyer can offer the sort of expertise that can make the difference between a property that is turning a profit and one that is showing a loss.
Attention to Detail
A busy property investor may not have time to pay attention to all the details of their property such as landscaping or making minor repairs each season. The property manager can do this for them, allowing the investor to know their property is in good shape all year long.
Peter Bubel+ by | Feb 6, 2017 | Pennsylvania, Peter Bubel, Sports
After another dismal season, the Philadelphia Phillies are striving to achieve more in the upcoming year following four straight losing seasons. The team’s goals are modest, as they have improved over the years. In 2015, the Phillies recorded 63 wins, followed by a 71-win 2016 season. Manager Pete Mackanin says he aims to reach 81 this year.
The team has been in a rebuilding process since roughly 2012 after a string of immense success, including a World Series title in 2008, which has since come to a close after the departure of Ryan Howard. Mackanin believes he has found a number of players that can truly make a difference on this young Philadelphia roster, adding veteran outfielders Michael Saunders and Howie Kendrick, in addition to right-handed pitcher Clay Buchholz.
The newcomers join an already impressive group with center fielder Odubel Herrera, third baseman Maikel Franco, and shortstop Freddy Galvis, who are intended to be utilized by general manager Matt Klentak. The organization is looking to avoid long-term contracts to see which players fit best in their improving system, and with the best farm system in the MLB, several prospects may be able to fill those positions.
“We might not go from A to Z to the World Series, but I think we can go from A to F, or A to G. We have to start making our move,” stated Mackanin. The Phillies have more experience on the roster, as the younger players (Herrera and Franco) have now completed a full season, and with the veteran presence of Saunders and Kendrick, the team aims to take advantage of the added guidance.
As mentioned, the Phillies’ farm system houses some of the best prospects in baseball. Some of the more promising rookies to keep an eye on include pitchers Vince Velasquez, Aaron Nola, Zach Eflin, and Alec Asher, all of whom are under the age of 25 and have some experience pitching in the major league. Shortstop J.P. Crawford is another player that has caught the attention of scouts around the country, as he is the #4 overall ranking shortstop this year. Though most are not expected to join the Phillies starting lineup this year, they will gain valuable experience in Triple-A, potentially increasing their stock and chances of being called up by the 2018 season.
Mackanin has stressed the importance of adding veteran leadership to the team, seeing as Ryan Howard’s departure has left a gaping hole in that area. However, Mackanin feels strongly that Saunders is a viable replacement. “It’s important to have at least one guy with a professional approach to show the younger guys how to approach situations in games,” Mackanin stated. “Maybe they can put something in somebody’s ear and have (the younger player) say ‘You know, I never thought about it that way.’”
The expectations for this up and coming Philadelphia team is much higher than the previous three seasons. Players who showcased their abilities last season will be looked upon to maintain their levels of success, as well as offer a heightened sense of teamwork. There’s no denying that fans will be expecting more as well, and with the recent addition of former Phillie John Kruk to the broadcasting team, morale may be significantly higher than it has been in the past few seasons.
Peter Bubel+ by | Jan 13, 2017 | Blog, Peter Bubel, Travel
It’s a new year, and with it comes resolutions for how to make this year a great one for ourselves. Why not make it an adventurous one as well by adding travel to your list of resolutions for 2017?
Travel is an important part of life for so many reasons. Not only does it provide us enjoyment and entertainment as we journey from one place to the next, it also provides us with invaluable learning experiences that we would be unable to find anywhere else. Absorbing new cultures and meeting new people helps us to expand our worldview and cean even make us more understanding and accepting of unfamiliar things. Travel not only better us as individual but as a society as a whole. Get out there, get exploring, and get learning in 2017 with these top travel destinations on which to set your sights.
Canada
- Take a trip to the Great White North this year and join the country for two very special anniversaries. Not only is the entire country celebrating the 150th anniversary of its Confederation, the Québec city of Montreal will be celebrating its 375th birthday in December. Be a part of history and join in the momentous celebration of a nation.
Cuba
- After more than 50 years, relations between Cuba and the United States were finally repaired in July of 2015, reopening travel between the two nations. Step back in time to the 1950s and see streets filled with cars half a century old in a country rich with culture as you walk along the historic streets in places like Havana. Keep an eye out for flash sales from airlines on tickets to Cuba this year to make your trip even easier.
Botswana
- If you’ve ever wanted to explore an African safari and live out real-life scenes from “The Lion King,” Botswana is probably worth marking on your map. Opening this spring is the Duba Plains Camp; at the center of this 77,000 acre area of the Okavango Delta, visitors will stay in a luxury tent camp and be able to observe elephants, lions, and zebras alike up-close in their natural habitats.
There are so many places to go and things to do that this list couldn’t even begin to cover them all, so get out there and find them for yourself! It doesn’t matter where you go this year, the important thing is that you travel!
Peter Bubel+ by | Jan 9, 2017 | Peter Bubel, Property, Property Management, Real Estate
Good property managers commit themselves to providing the ideal rental experience for tenants. They’ve sworn to manage tenant complaints, field queries and accommodate requests to the fullest extent their managerial powers allow, because they realize that tenants are the source of their profits, and therefore it would be mutually destructive to do anything less than keep tenants thrilled with their current living situation.
Great (and financially successful) property managers and landlords only become known as such by building effective professional relationships; they rely on the fact that their reputations for efficiency and attentiveness are cemented through heaps of praise from tenants.
Both tenants and landlords count equally on each other’s efforts to achieve peace and prosperity, which means landlords reserve the right to be as selective when vetting potential renters as tenants are when choosing places to live. And just like identifying the gems, recognizing possible indicators of a less than ideal tenant is essential to a landlord’s success, so below I’ve listed the major red flags to watch out for when screening tenant applicants.
- A bad credit score – Credit scores are maintained by making payments in a timely fashion, so it’s sensible to assume that applicants with bad credit might have trouble paying rent on time, or at all. Applicants with a score of 620 of greater are far less likely to miss payments.
- Lacking a steadily/adequately paying job – Employment status is a huge indicator of potential payment issues; if a tenant is unemployed, or employed at a job that doesn’t steadily pay at least 2.5 – 3 times the monthly rent, expect an occasional struggle when collecting their rent.
- A hurried move – Tenants might have their reasons for seeking immediate housing (leases ending, terrible previous experiences, etc.), but use your best judgement when considering these situations, as a tenant’s eagerness to jump into a rental agreement could equal their willingness to flake out of one, and stiff you.
- Needing additional time for the deposit – If a tenant can’t even manage a timely initial deposit, the probability of always receiving prompt rent from them may be practically nil.
- Poor or nonexistent references – A great reference from a previous landlord, or commendations from an employer can alleviate previous concerns about applicants. However, serious questions arise when references fail to answer questions relevant to a tenant’s reliability, or cannot be reached anywhere.
- Applicants new to living together – The potential for miscommunication between you and your renters rises slightly with each additional tenant per unit, but the main concern with multiple applicants is whether they can coexist peacefully as roommates, which hasn’t been proven if tenants have never before lived together successfully. Failed experiments in companionship easily lead to broken leases and lost profits.
- Over 3 (serious) convictions in 5 years – If tenants consistently break the law, it’s difficult to expect them to honor your building regulations, or respect lease agreements.
Peter Bubel+ by | Jan 3, 2017 | Peter Bubel, Property, Property Management, Real Estate
Owning property can be a goldmine, but it can also be a hassle, especially for anyone with obligations exceeding duties as a landlord. And when you add multiple properties into the mix, maintaining an accurate gauge on rent payments, late fees, complaints, repairs, new tenant prep and more can get very sticky, very quick, even for the most veteran of landlords. To help, I’ve summarized a few reasons why it might be wise for landlords to look into locating a good property manager to mitigate the responsibilities of leasing property.
You will free up time
As a manager and founder of PANA rentals, I regularly oversee anywhere from 50 to 100 properties, many of which are low income or student housing. I’ve often heard firsthand from clients regarding the burdens on time and freedom that accompany being a landlord. I’ve heard clients tell of their responsibility for older relatives, or children who constantly need care; sometimes these clients are simply unable to work in the additional hours which being a landlord demands. We are living, thinking, caring people, and precious little is as valuable as our time.
Anyone can dream of reaping maximum benefits with minimum time constraint. Purchasing and leasing real estate is one of the most efficient methods of achieving some financial breathing room, provided you find yourself a decent property manager to clear the air of unnecessary hindrances on your time and peace of mind.
You will get more/better tenants
Good property managers know how to draw interest through marketing campaigns using all available resources, techniques and industry connections, strategies which generate a larger, healthier prospective tenant base. Highly developed screening processes also allow property managers to choose tenants who possess qualities which the landlord feels are ideal, such as keeping noise down at night, or being employed. Property managers also provide a barrier of professionalism by handling tenant interaction, which separates landlords from the painful and difficult decisions that can occasionally spring from becoming too personally involved in tenants’ lives.
You won’t have to worry about constantly traveling to and from properties
Whether due to damage, decay or negligence, issues with property are a given for owners, and being a landlord without a manager means you’ll have to be present whenever a problem needs solving. Living within feasible driving range becomes a necessity, unless, of course, you hire a property manager to act in your stead.
You can make money regardless of whether you have previous property management experience
There is no limit or minimum amount of control that must be ceded to a property manager. Both longtime landlords and novice property owners are able to maintain a level of involvement in the management process completely suited to their personal preference, meaning anyone can profit, no matter their current experience level.
Peter Bubel+ by | Dec 6, 2016 | Blog, Peter Bubel, Property, Property Management, Real Estate
For those looking to increase their wealth through investment, there are two basic investment types to make: investing in stock or investing in real estate. While each method has been proven effective, real estate investment is a highly lucrative game that could end up making you rich in the long run — of the 1,810 billionaires living today, 163 of them, or 9%, got their start in real estate, making the industry the third-largest source of wealth. However, real estate investment isn’t for everyone. Take a look at the pros and cons of investing in real estate before deciding if it’s the right investment method for you.
Pros:
-
The investment is physical.
Believe it or not, this is actually a huge deciding factor for many people when choosing how to invest their money. While investing in the stock market is also a great way to make money, for many people the main turn off is the way you can have money one minute and lose it the next. With real estate, this isn’t a concern. Your piece of land, your investment, is one you can reach out, touch, and even stand on. While money can come and go, your property investment will always remain.
-
You are in control of your investment.
With each new property that you purchase, you essentially become the owner and CEO of your own small company for which you’re in charge of hiring (renting), maintenance (general upkeep), and growth (additions and renovations). By making renovations to improve the house, like a bathroom or kitchen remodel, you’re increasing the value of your investment, something you can’t do with stock investments.
-
Real estate is a relatively stable investment.
When you invest in real estate, there is very little — if any — fluctuation that occurs in terms of value. While stock prices can double and halve in mere hours, real estate offers a stable alternative for investment for those who aren’t looking for the stressful ups and downs of stock market investment.
Cons:
-
The investment is illiquid.
One of the major cons that deters people from investing in real estate is how illiquid — or how difficult to convert from asset to cash — the investment is. Where buying and selling stocks can be completed in a matter of seconds, selling a piece of property can take weeks or even months for proper paperwork to be signed, payments to go through, and sales to be finalized. So while real estate is a far more stable investment,
-
It requires a lot of work.
Where stocks are easy in that, once you invest in them, your work is primarily done, real estate investments require a lot of work to be put into them for you to see substantial returns. Often times, people choose to hire property managers who act as the middleman and take the burden of maintenance off of the shoulders of the landlord, but if you don’t then you’re looking at fixing minor repairs as they arise, maintaining the property, finding your own tenants, and enforcing the lease on your own.
-
If you can’t find tenants, you’re paying for your investment.
Another huge con of real estate investment is that you need other people to make your investment profitable. If you’ve purchased a rental property, you’ll need tenants to occupy the building or else you’ll end up losing money each month as you pay for mortgage, utilities, and general upkeep.
