Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
Become a landlord!
Be your own boss!
Build equity that someone else pays for!
These may sound like the kind of come-ons that you tune out when you hear them on the radio or TV, but, surprisingly, they’re actually more reality-based than not. Whether you're buying a Rehoboth Beach property for its rental potential, or preparing to turn a currently-owned property into an income-producer, the game plan is straightforward. Locate a suitable Rehoboth Beach property: one with the rental potential to create cash flow either as income, or to build real estate equity…or both!
So what’s the catch?
In fact, there is one. Becoming a successful landlord has more to it than spotting an appropriate Rehoboth Beach property and sitting back, waiting for someone to nail up an ‘Easy Street’ sign. In order to make the most of the opportunity an Rehoboth Beach rental property represents, you need to either already have, or develop, a requisite set of skills. Chief among them:
1. The relationship between landlord and tenant, and landlord and the tradespeople he hires, should be purposefully professional. Your tenants may also be fellow Rehoboth Beach residents (or even neighbors), yet skillfully establishing and maintaining an amiable yet businesslike relationship takes dexterity and finesse. Substituting an overly personal relationship instead of the more proper businesslike one can result in counterproductive consequences…like tardy rent payments or superfluous demands.
2. As much as any other business, successful landlords are usually ‘people people’: they don’t shy away from interactions on a face-to-face basis. Whether it’s dealing with renters’ concerns, interviewing potential tenants, or handling the personnel who help maintain a Rehoboth Beach property, great landlords have great leadership skills. They have the knack of bringing positive energy to everyday dealings. Good landlords exhibit authority without being overbearing, and they allow their tenants to feel the right degree of investment in what is their home, if only temporarily.
3. It may seem as if turning a property into an income-producer is an extremely simple task, but in fact it takes organizational skills to accomplish it efficiently. There are laws that have to be observed, and documentation to be maintained. People who cultivate clarity in such matters are nicely suited to the demands of running a rental property.
4. There are unavoidable time availability demands that mustn’t be ignored. A tenant with a maintenance emergency needs to have it addressed. Now. It’s one thing that even the most people-oriented, organizationally proficient business titan should be prepared to attend to without delay.
But suppose you lack some (or even all) of these traits? Should you just walk away from a Rehoboth Beach property—even after you’ve spotted one you know has great potential? Actually, there is a Plan B, which is to hire a property manager—a professional practiced in all the requisite skills. To explore the current crop of Rehoboth Beach property listings with serious potential, just 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.beachrealestate.com.
When you read up on the dos and don’ts for selling your home, there is one piece of advice that’s universal when it comes to negotiating a successful deal: don’t let emotions get in the way. It does seem peculiar that something that is so obvious about any negotiation would have to be stated at all—much less repeated so often. You have to conclude that it happens a lot.
It does, and there are deep-seated reasons. Although selling your Rehoboth Beach home is primarily a business venture, it’s one with some of the emotional overtones usually associated with creative endeavors. When an artist or sculptor, jewelry designer or photographer—any creative professional—decides to offer works for sale to the public, it’s nearly impossible for him or her to remain completely objective about how it is received. Or to avoid forming feelings about those who accept or reject the creation.
Selling your Rehoboth Beach home only seems to be all business. True, it’s a single-transaction enterprise. It begins with preparing the property, and concludes with negotiating to close the deal. Every step of the process may seem to be all business. But in reality, it’s almost unavoidable for emotional cross currents to seep in from the very first step.
Consider preparing the property. If there were such a thing as a perfect home, this would be a cut-and-dried affair: all it would involve would be to eliminate every flaw. But since perfection exists only in some alternate universe, deciding which of a home’s features need to be enhanced, replaced, or done away with altogether involves making subjective judgments. Some of these can require paying significant amounts of money; others, significant amounts of elbow grease.
When the work is done and the results are first put on display, it’s like Opening Night. It is only human to feel personally connected with how prospective buyers react. Not only is the ‘product’ that’s being evaluated one that reflects your tastes and efforts—it’s also where you live! Your home, for goodness’ sake! It deserves to be appreciated at the very least…
Especially when it comes to the negotiations phase of selling your Rehoboth Beach home, this is one business venture wherein it’s nearly impossible to avoid the personal element. Acknowledging it is simple. And knowledge is power—if you expect that you might experience an emotional reaction at some point, you’ll recognize it for what it is. If it’s an overreaction, you will be much more likely to be able to simply take a deep breath, put it into perspective—and come up with an appropriate response.
“A lot of times buyers and sellers will argue tooth and nail over things that aren’t really that important,” New York City closing attorney Sandor Krauss blogged recently; “and sometimes it blows deals.”
One of the great advantages to having a Rehoboth Beach agent by your side when selling your area home is to have an experienced intermediary working on your behalf. It can put you at a professional remove from the direct negotiations with buyers—and their emotions! If you will be selling your home in Rehoboth Beach this winter or fall, I hope you’ll give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.