Practical and Helpful Tips: Options
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. Once one gets to conceptualize the reasoning behind this idea, then they will get to start appreciating and quite well adopting this crazy idea for the management of their property.
As a general rule here, we give the advice not to ever inspect your property and advisably leave states apart from the investment property you have. 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! Anyway, let us see some of the reasons why you should never inspect your investment property.
The fact that you had a building inspector do their job on the property before you settled for it is the first reason why you will realistically have no business inspecting the property. We all know that when a task is left to be performed by the professionals, then it really gets done with a superior touch as compared to the task being done by the laymen and this therefore means that you will essentially be wasting your efforts and time when you try to do an inspection on your own for your investment property. 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.
It should be that there exists complete confidence in the team charged with the responsibility of care taking for your property and where this confidence is lacking, then we may sense a bit of danger for it is a telltale sign of you having the wrong people. Humans will develop attachments of emotional nature to anything they hold dear and this is just in our wiring and as such when you consider inspecting the investment by yourself then be ready to start developing emotional attachments to it which will be counterproductive to your decision making process especially the financial ones. As an investor you must as well be aware of the fact that your time is far more than doing a physical check on your 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.