Listing Courtesy of BETHANY AREA REALTY LLC
Property management for Sussex County landlords can be the key to circumventing what can otherwise become growth-limiting factors. If you are one of those who acquired a few rental properties as a reliable way to earn easy, hands-off income, you may have been surprised when your hands turned out to be a bit more ‘on’ than you had planned.
Or perhaps you are an experienced landlord looking for a way to expand your business—but already fully occupied with the status quo. The solution may be one you considered before, but decided against for cost reasons. But now that you have more predictable cash flow expectations, you might take a harder look (clearly, many others have done so: according to the international analysts at IBIS World, the property management industry does $55 billion worth of business in the U.S. every year!).
Here’s a back-of-the-envelope look at why property management in town makes sense to so many thrifty landlords:
Whether you need help in getting started or want to offload some of the busywork, property management companies may be able to provide benefits that easily outweigh the cost. Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.
Striving to become a prudent person is a laudable goal—one usually only achieved after impetuous youthful misadventures have taught the wisdom of prudence. Caution—particularly in financial matters—may seem to be synonymous with prudence—but they aren’t always the same thing. Especially when there are magicians at work.
An example of that can be found in the way most people think about Delaware rental properties. There’s no sleight-of-hand from the landlord’s point of view: few would argue with the proposition that rental properties are a prudent form of investment.
The now-you-see-it, now-you-don’t sorcery happens when the audience (in this case, renters) view the same proposition: buying a home instead of renting. From that perspective, the exact same prudent investment can seem to be transformed into a fearfully huge risk. Taking the plunge—buying a home—has become a dangerously formidable commitment. It would seem to be a more prudent course to put off that kind of years-long gamble. After all, who knows for sure what the future will bring? Signing on the dotted line for a 15- or 30-year Delaware home loan seems like a humongous step into the unknown.
This apparently prudent risk assessment is actually a conclusion that fails to see what’s happening behind the distracting illusion. At its root is a basic truth behind the rent or buy decision:
Unless you’re living with your parents, you’ll be paying off a mortgage—either way.
The choice comes down to paying for a landlord’s loan or paying for your own. If you take the mortgage yourself, you have to make the payments. If you rent from the landlord, you also have to make the payments—with the landlord acting as middleman.
As soon as you’ve peeked behind the curtain to acknowledge that fact, a couple of other notable backstage realities are likely to come into focus:
First, if you buy a home via a fixed-rate mortgage, you can plan on what your payments will cost—now and 15 or 30 years from now. It’s written in stone. On the other hand, if you rent, you won’t know what your rent payments will be a few years from now. The first choice is the one that creates predictability and stability: i.e., prudence.
Second, if you buy, eventually the loan payments will equal zero. If you rent—well, having seen behind the curtain, you know what happens eventually: i.e., more payments.
At least in the world of Delaware rental properties, there is a distinct difference between prudence and caution. In the rent-vs-buy calculus, it’s pretty clear which is which.
Once you have peeked behind the curtain, you may also conclude that it’s an even more prudent idea to become a landlord yourself. And right now, there are some excellent Delaware rental properties that could make that possible.
To investigate further, give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.