Here Are Some Reasons Why You Should Never See Your Investment Property
Like the title seems to suggest, this kind of advice on property management will sound crazy and result in amazement from the general audience whenever it is given to anyone for the first time. Though for the ones who understand this more, they will actually confess this to be a very smart move for the management of their property when they clearly get to understand the concept behind the whole idea.
The rule is that the good investor should never visit their property and it is even advisable not to live in the same state as your investment property is located. I fall for this idea given the fact that with it one is never a slave to having their choice locations for investments to their state of stay but will be able to go ahead and explore other investment property options in other parts of this wide world! Below we will be discussing some of the reasons why you will have no reason inspecting your investment property.
A building inspector will have had to do the building an inspection before you finally decide to purchase it. The reality is that these professionals will do a better job of inspection than what you can manage to do by yourself and thus your inspection will be nothing but a waste of precious time. There are the rental managers who will be ready to lend their services to you after you will have bought the property and as such having it as yours for management and when you bring these professionals in to help you out with the management issues of your property, then you will have no business doing any inspection on the premise for the level at which these professional entities will do the job will quite supersede that of the layman who you happen to be.
In a relationship of any kind and more so of a business nature, there should exist a feeling of mutual trust and confidence between the trustees and those whom the custodianship rests and in cases where this seems to be amiss then that is a good sign of trouble and dealing with the people of the wrong type. As beings of the emotional nature, we risk attaching ourselves emotionally to our property the moment we get inspecting it on our own and this attachment will be quite dangerous for the financial decisions we will be making concerning the property in question. For an investor, they are alive to the fact that time is the money and they really value time as to be of much greater value to the task of doing routine checks on property. The good investor knows quite too well that real money is out of capital growth and invests more of his time in seeing the ways of seeing this achieved.