Effective Property Management Property Management can make or break your investment

A recent study by “The Property Management Journal,” found that only 3% of landlords really know how to effectively manage their properties. The other 97% manage by crisis, constantly reacting to problems, rather than planning, acting, and taking control for maximum profitability. Management, when handled properly, can be very rewarding and profitable.

Sure, management can be a headache, but the trick is to manage by planning, not by crisis. People often don’t get as excited, about management techniques and procedures, as they do about no-money-down deals, or terrific, new, creative, financing techniques.  But without effective management, the project might fail, and you may lose your shirt.

Even a once-in-a-lifetime bargain property, with all the potential in the world, can quickly turn into a sour investment if you don’t manage it properly. On the other hand, skillful management can convert some of the worst properties into gold mines.

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