Which Rental Property Improvements Should You Make In 2019?

Are you planning on making improvements to your rental property in 2019? If so, there are a variety of improvements that you should make to your rental property this year.

Just remember to not get to personally attached to the renovations because even though you may like the idea of having granite counter tops or other high end features in your home, those high end features are not needed in your rental property.

Keep looking at your rental properties as “products” that you’re upgrading for the purpose of offering your tenants better value on a monthly basis and you will be okay.

The following are improvements that you should consider making to your rental property: 

1. Upgrade Plumbing Fixtures

Kitchen and bathroom fixtures like faucets, sinks and sprayers can get old and dingy very quickly, not to mention looking out of date. For fixtures that are around 10 years old, no matter what condition, landlords should consider changing them out.
A shiny chrome finish is currently associated with standard grade, so moving up to more refined finishes like oil-rubbed bronze or brushed nickel will boost the look of the rental property. Whatever landlords choose, they should make sure that all the fixtures are the same to bring harmony and unity to the home’s décor.

2. Install Better Countertops

The lowest quality countertops are the plastic laminate ones that don’t stay nice for long as they are subject to discoloration from liquids and burns. Over time, laminate countertops just don’t hold up.
Installing countertops made of granite, slate, quartz, or other solid surface material will boost the look of any kitchen and bathroom. Stone alternatives for countertops include acrylic/polyester composites, ceramic tile and stained concrete that are durable and beautiful.

3. Replace the Floor

Putting in a new floor in certain areas or throughout the rental property is an excellent way to boost property values. Replacing standard grade carpet and linoleum with higher end material like laminate, tile, stone or even hardwood will not only add value, but it will make caring, cleaning and repairing the floor so much easier for tenants and landlords.
Here’s a handy guide on flooring options for rental properties.

4. Increase Storage

Storage is one of the top priorities for renters, so landlords can really make their property shine by increasing the storage options. Some small and simple ideas for boosting storage include adding hooks to key areas like entryways and bathrooms, installing closet organizing systems, and adding additional shelving in a pantry.
More involved storage upgrades include installing permanent shelving in the garage, creating built-in shelves or in-wall storage, framing in a new closet and adding a shed on the property.

5. Newer, Better Windows

Depending on the age of the rental property, it may be time to install new windows. Not only do windows contribute to keeping a property light and bright, but they are a critical part of keeping heat and cold at bay.
Landlords should consider upgrading to double pane windows to provide better insulation and to muffle outside sounds. Other upgrade options include windows with blinds inside the panes or insulated windows.

6. Put a Good Roof Over Their Heads

When a roof reaches approximately fifteen years old, it’s time to get it replaced. Neglecting the roof can lead to serious damage in severe weather. Landlords should have a roofing inspector check out the roof regularly and make arrangements to replace it on their recommendation.
A quality roof not only looks good but protects the investment beneath it.

7. Miscellaneous Upgrades

There are all kinds of unique upgrades that landlords can do to the rental property that will boost the value. Ideas include installing tankless water heaters, surround sound systems, hard landscaping, siding, and even adding some square footage, like an additional bedroom or bathroom.
Of course, minor and major kitchen and bathroom remodeling has been revealed as the best way to boost property values.
If landlords are going to be spending money on improving their rental property to attract higher quality tenants and boost property values, it’s important to focus on the right things. A fancy kitchen won’t do much if the roof is leaking or basement has mold.
Landlords should always start with taking care of the basics and then tackle the more cosmetic improvements down the road.
Landlords should also avoid doing too much with the upgrades and over-improve. Putting in the top of the line flooring material, for example, isn’t a wise idea in a rental where the landlord has little control over how tenants will treat the home.
Landlords need to find that fine line between investing in their property and doing so much that they won’t ever benefit from the fruits of their hard work.

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For professional property management in the Houston Texas area contact Vestpro Residential Services by calling us at (832) 971-1841 or click here to connect with us online. 

How To Improve The Curb Appeal Of Your Houston Rental Property

Summer is almost here in Houston Texas and when you combine warmer weather with longer days this means that you have greater opportunity to improve the curb appeal of your Houston area rental property.

If you’re unfamiliar with the term “curb appeal”, this just means the appearance of your rental property that people will see before they get out of their vehicle to take a tour of the property.

Studies show that many renters will avoid some rental properties if they look actually “scarier” than others that’s why if you want to attract the best tenants possible you should go out of your way to improve the curb appeal of your property before you list it for rent.

In this article, we will share with you several simple tips that you can use to improve the curb appeal of your property without having to invest a ton of money.

Tip #1 – Property Cleanup

If it’s been between three and four months since you last cleaned up the landscaping surrounding your Houston Texas rental property, you should hire a landscaping company or spend at least one Saturday cleaning up the landscaping. This should include mowing and trimming, bagging up any excess leaves, removing the trash from the property, and taking the time to improve the overall appearance of the landscaping.

Once the property has been effectively cleaned up, you should then turn your attention to adding new sod or re-seeding the yard (if it’s needed), planting new flowers, shrubs or trees, adding outdoor LED lighting, repainting the fencing / mailbox / front door and doing anything else that you can to improve the landscaping.

Tip #2 – Take Care Of The Driveway And Sidewalks

Last of all, but most important, once you take the time to clean up the property you should next take care of the driveway and sidewalks. This is done by renting a power washer that you will use to spray down the driveway and sidewalks to remove any dirt, grime or gunk that’s been accumulated over the years.

After spraying down the driveway and sidewalks, you should next turn your attention to the exterior of your Houston Texas rental property and gently spray the siding of your home because this will also help to improve that look up your home and make it appear to be brighter and more cheerful once potential renters arrive to tour the property.

Contact Vestpro Residential Services

For more tips that you can use to improve the curb appeal of your Houston Texas Home contact us today by calling (832) 971-1841 or click here to connect with us online.

Tips for getting your pool ready for summer

Even though summer 2019 is right around the corner, in Texas we can have summer like temperatures as early as April so it’s important for anyone who owns a rental property that has a pool to get it ready for summer by following these tips:

Before filling your pool you should also confirm that it’s clean and safe for use by both adults and children.

When inspecting your pool you should also review your pool equipment as well to make sure that the operating system for your swimming pool will provide proper flow and suction of water.

Verify Water Chemistry

Once you’ve inspected your swimming pool, and you’ve filled it with water, you should next check the chemistry of your pool water to insure that your pool has the proper P.H, chlorine, calcium and other levels which all swimming pools must have to offer a safe experience for their owners or guests.

Insure That Your Pool Is Safe Before Use

Besides making sure that your Houston Texas Rental Property has a swimming pool which is ready and safe for use, you should also make sure that the pool is also safe especially if there are small children living at the property.

To insure the safety of your pool you should have a fence built around it with a gate because, this will insure that little ones will not be able to find their way into the pool when adults are not looking.

Confirm Proper Signage Around Pool

Last of all, but most important, make sure that your swimming pool is safe for everyone by confirming that it has proper signage on the gate or fence which includes the following information: lifeguard status, rules for the pool, phone location and information on if diving will be allowed at the pool or not.

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Are you tired of maintenance and doing all of the things that are needed to manage your rental property yourself? Contact Vestpro Residential Services by calling us at (832) 971-1841 or click here to connect with us online.

New Rental Vs. Old Rental – Which Should You Invest In?

Are you planning on investing in a Houston Texas area rental property? If so, like many investors you may be faced with having to choose between an old build vs. a new build.

Yes, both options can be good or bad that’s why in this article we will list the pro’s and con’s of investing in a new rental vs. an older rental property.

It’s nо secret thаt old houses rеԛuіrе more TLC thаn new. But that’s nоt nесеѕѕаrіlу a rеаѕоn tо аvоіd thеm.

Cоnѕіdеrаtіоnѕ When Purchasing Old оr Nеw

Settling/Foundation Iѕѕuеѕ

Oldеr houses hаvе issues related tо settling thаt hореfullу рrеvіоuѕ оwnеrѕ hаvеn’t nеglесtеd. Thеrе are ways tо combat іѕѕuеѕ rеlаtеd tо ѕеttlіng, ѕuсh аѕ іnѕtаllіng joists. Sоmеtіmеѕ these fіxеѕ can bе a relatively cheap way tо mаіntаіn the structural іntеgrіtу оf the hоuѕе. Other times they саn bе very соѕtlу.

Nеw houses аrеn’t nесеѕѕаrіlу “ѕаfе” іn thіѕ rеgаrd, еіthеr. They аrе in the process оf settling. This іѕ оnе reason you ѕhоuld always gеt аn іnѕресtіоn, whether thе рrореrtу’ѕ nеw or оld.

Addіtіоnаllу, mаnу оldеr hоmеѕ hаvе рооr gutter nеtwоrkѕ, if any at аll. Thіѕ аllоwѕ wаtеr tо penetrate thе foundation аnd possibly create cracks. Thеrе аrе rеmеdіеѕ tо fixing foundation сrасkѕ, but аgаіn, thеу can ѕеt a buyer back unеxресtеdlу іf thеу aren’t aware оf іt.

Tоxіс Chеmісаlѕ

Unfоrtunаtеlу, tоxіс сhеmісаlѕ аrе uѕuаllу present іn houses built bеfоrе 1978.

Oftеntіmеѕ, you’ll fіnd wаіvеrѕ whеrе owners сhооѕе nоt tо іnѕресt for lеаd-bаѕеd paint аnd claim nо knоwlеdgе of its presence. In fасt, іn аll thе dеаlѕ I’vе dоnе, I’vе уеt tо fіnd аn owner whо has wаntеd аn іnѕресtіоn fоr lead-based paint, аѕ mitigation and rеmоvаl methods can bе соѕtlу.

If you purchase an оldеr property with thе intent to rеnоvаtе іt, bе аwаrе that іt’ѕ lіkеlу уоu’ll fіnd аѕbеѕtоѕ. It саn bе іn thе wаllѕ, thе flooring, уоu nаmе іt. Mitigating asbestos еxроѕurе саn аlѕо be еxреnѕіvе, ѕо the presence of thіѕ toxin іѕ something you’ll want tо knоw about prior to purchase, tоо.

Fоrtunаtеlу, аѕbеѕtоѕ and lеаd раіnt wеrе bаnnеd аnd аrе nоt present іn nеw соnѕtruсtіоn.

Elесtrісаl

It’s not unсоmmоn tо fіnd оutdаtеd аnd еvеn dаngеrоuѕ wiring іn оldеr houses. Knоb and tubе wіrіng was frequently uѕеd in lаtе-1800ѕ/еаrlу-1900ѕ hоmеѕ. But іf maintained рrореrlу, thеѕе mаtеrіаlѕ are ѕtіll ѕаfе.

What аrе thе сhаnсеѕ, hоwеvеr, thаt the home you рurсhаѕе hаѕ аlwауѕ been mаіntаіnеd properly? Agаіn, inspection is key.

Pluѕ, сhаngеѕ іn еlесtrісіtу dеmаnd mау create a need for аn updated еlесtrісаl раnеl аnd/оr wiring rеgаrdlеѕѕ. Outdаtеd еlесtrісаl ѕhоuld thеrеfоrе bе a ѕаfеtу concern, so uрgrаdіng іѕ hіghlу rесоmmеndеd (аnd іn ѕоmе cases rеԛuіrеd).

Unѕurрrіѕіnglу, thе соѕt of thеѕе upgrades can add up ԛuісklу.

New construction оutfіttеd wіth modern еlесtrісаl раnеlѕ оffеr реасе of mіnd іn tеrmѕ оf еlесtrісаl fіrеѕ and a ѕtеаdу flow оf еlесtrісіtу tо рrеvеnt power ѕurgеѕ, blоwn fuѕеѕ, trірреd brеаkеrѕ, еtс.

HVAC

HVAC concerns реrtаіn particularly tо multіfаmіlу hоuѕіng. In some сіtіеѕ, owners have tо rерlасе аn оutdаtеd HVAC system thаt’ѕ ѕеrvісіng thе whоlе buіldіng with ѕераrаtе vents, electrical, еtс. for еасh unit. Be ѕurе to lооk іntо and соmрlу wіth rеԛuіrеmеntѕ.

Contact Vestpro Residential Services

Need more information before purchasing your next rental property? We can help! Our company is one of the top property management firms in the Houston area and we look forward to answering your questions plus potentially managing your next rental.

Learn more by contacting us at (832) 971-1841 or click here to connect with us online.

What’s Happening To The Multifamily Rentals In The United States?

There’s no doubt that construction in the Houston Texas area has been on the rise in recent years but one of the noticeable problems that we’ve seen occurring is that there have been fewer and fewer small, multi-family buildings constructed each year.

In 2017 for example, there were 358,000 multifamily buildings constructed in the United States but these units were all large multifamily properties of 50 or more units. When it comes to smaller multifamily buildings there were only 27,000 units constructed.

What’s Happened To Smaller Multifamily Rental Properties?

Why the big change in multifamily units constructed in the United States? The change in the construction of multifamily properties can be traced back to the demand for rentals nationwide and the fact that most renters want more in their rental properties than they did 30 years ago.

Much of the shift has to do with the rise of no-growth, not-in-my-backyard politics since the 1960s. This political movement has been strongest in homeowner-dominated suburbs, and as a result, as BuildZoom chief economist Issi Romem showed in a remarkable study earlier this year, almost all the housing construction in expensive, space-constrained coastal metropolitan areas such as Boston, Los Angeles, New York, San Francisco and Seattle is now happening in and around established urban centers.

 The residential suburbs of these areas have effectively gone dormant, shunting new construction to the neighborhoods — mostly in or near old urban cores — where the neighbors either don’t object (because they’re in commercial buildings) or don’t have much political clout (because they’re low-income renters), and local elected officials see benefits in a growing population. In such places, big apartment buildings generally make more sense than duplexes. Also, as barriers to new construction — land costs, labor costs, permitting costs, zoning rules, Nimby opposition, etc. — have risen, the threshold project size needed to turn a profit has increased even in less expensive metro areas.

Another factor is that limited partnerships, limited liability companies, real estate investment trusts and the like have taken over from individuals as the dominant players in multifamily housing, and these institutional investors tend to be more interested in (and capable of) developing big projects than in building fourplexes here and there. Non-individuals owned 71 percent of all rental units in multifamily buildings and 94 percent of those in buildings with 50 or more units in 2015, when the Census Bureau last asked around, and those percentages have been rising since at least 2001. It’s apparent in the above charts (especially the third one) that the shift from small multi-unit buildings to big ones accelerated after the mid-1990s, which happens to be right after the Resolution Trust Corp., the government entity charged with cleaning up the aftermath of the savings and loan crisis, went to great lengths to create an institutional market for such properties.

There is surely also an element of changing consumer taste at work here, with more Americans wanting to live in tall buildings close to amenities, jobs and public transit than was the case 30 years ago. But I don’t think the drop from 498,000 apartments built in two-to-19-unit buildings in 1973 to just 59,000 in 2017 can be explained purely in demand terms. There is clearly a supply problem here.

Will we see any more small multifamily properties built in the coming years? They obviously will still continue to be built but not as much as in the 1970’s or 1980’s so if you have the opportunity to buy one, you shouldn’t hesitate to purchase it because they make great investment properties!

Get Houston Texas Property Management Here

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Proof Of Income – Learn More About Why It’s Critical That You Require It

If you own rental properties, one of the most important things you can do is require proof of income from your tenants because, it’s what’s going to let you know if a tenant is really qualified to live in your rental property and will be able to pay their rent on time on a monthly basis or not.

Why You Need Proof of Income

Checking proof of income protects you from losing money and your tenant from eviction, if they suddenly can’t afford rent.

Let’s step back for a minute and acknowledge that most tenants don’t purposely fail to pay rent. Nor do they go into a rental agreement with the intent of living there for free.

But having proof of a steady income that is appropriate for the rent you charge can reduce risk to both you and your tenant. After all, evicting a tenant is not ideal and can cost you thousands.

Determine if the 3x Income Rule Is Met

When asking for proof of income for apartment rentals, you’re not just verifying a stable source of money. You’re also figuring out if your potential tenant can meet the 3x Income rule. Generally, you want to take tenants only if their gross yearly income is three times the rent you’re charging.

Of course, you can make exceptions to this rule, for example, if your potential renter has good credit, a steady work history, or if they have a cosigner.

For many potential renters you just need to look at a few pay stubs, but with retirees (who are renting more and more), students, and those without your typical salaried job, for instance, you may have to find other ways to verify their income.

The rise of the gig economy may also affect how you determine appropriate income. The Bureau of Labor Statistics estimated that about 10 percent of the U.S. population had “alternative work arrangements” in 2017. Still others supplement their traditional income with side gig companies like Uber or Upwork.

Verify Income for Potential Renters Without a Traditional Salary

You should verify income for all renters, but it’s especially important for potential renters who don’t have your typical 9-to-5. Let’s take a look at a few of those categories.

Self-Employed: Tenants who own their own business won’t have a pay stub or an employer to call. You’ll have to find other ways to verify their income and ensure that it’s steady.

Cash-Only Employees: Like the self-employed, there won’t be a paper trail for these renters. And a lot of them don’t know how to show proof of income, which makes it difficult for them to rent. This group includes waitstaff, landscaping employees, yoga instructors, artists and master crafts people as well as childcare workers. You will, however, most likely have an employer you can call or email.

Commission-Based Employees: Sales reps and retail employees may be working on commission or through incentive plans. While you probably ask to see two pay stubs for salaried renters, you may want to see a yearly statement of income to determine if a renter that works on commission is making enough.

Retirees: Retirees will have other types of income you can check: social security, retirement accounts, and pensions.

Students: Student renters will almost always need a cosigner. In that case, you’ll want to check proof of income for the cosigner, as well.

Ways to Determine Proof of Income

Whether they’re students, retirees, gig workers or have a salaried job, you still need to ask for documentation. Here are the best ways to do that.

  1. Pay Stub: Salaried and freelance workers who have filed W9s can provide pay stubs. For freelancers, however, a few pay stubs aren’t likely to give you the whole picture. You’ll need more verification.
  2. Employer Verification: A letter, email, or phone call from an employer can help you get a clear picture of finances. This is particularly helpful for potential renters who work on a cash-only basis.
  3. W2 or 1099: A W2 indicates exactly how much a salaried employee made over the past year. If they plan to keep that job, you’ll know whether or not they meet your requirements. A 1099 for a freelancer will give you the same information, but income for the coming years may vary.
  4. Offer Letter: If your potential tenant just changed jobs, ask for a copy of their offer letter. It should state their salary.
  5. Tax Return: Like W2s and 1099s, a tax return will tell you what someone made the previous year. It will be up to you to determine whether their job or other circumstances have changed since then.
  6. Retirement, Social Security or Pension Distribution Statement: For retirees, a distribution statement from social security, a retirement fund or a pension fund will verify income. You may need a combination or all three of these to get a clear picture of their finances.

Insufficient Funds Isn’t the End

If your potential tenant doesn’t meet your income criteria at first blush, don’t decline them right away. If everything else checks out and they seem like a good fit, there may be other ways to bring them on as tenants.

First of all, did you consider all of their means of income? For retirees, did you collect statements from all retirement accounts? For salaried employees, did you consider their side gigs?

Go back and ask them if they have any other sources that they didn’t consider including. If these are steady sources that they plan on keeping, you’re absolutely right to include them as part of their gross income.

And if their income still doesn’t add up, ask them if they would consider finding a cosigner. A lot of landlords require this for students, and it’s usually a parent or guardian. But other renters might be open to the idea, as well.

Proof of income is critical in protecting yourself and your renters. Still, you don’t have to keep to a hard-and-fast rule in determining who’s in and who’s out. Look at all the information in front of you, and use it to make a well-informed decision in the best interests of you and your tenants.

Get Property Management Here

Do you need full service property management for your Houston area rental properties? If so, contact Vestpro Residential services by calling us at (832) 971-1841 or click here to connect with us online.

Are Owners Required to Disclose Lead Paint in Rentals in Texas? Yes!

Older rental properties in Texas still exist and as of 2019 there still are a fair amount of properties on the rental market today that contain lead-based paint although it’s been banned in the United States since the late 1970s.

Lead-based paint exposure can cause weakness, kidney damage, weakness, and so many other bad symptoms that it’s easy to see why it was banned but in old homes, the culprit is still there even if it’s been painted over a few times with other layers of paint.

Although most landlords don’t let the paint chip or flake off in their rental properties, if lead based paint is allowed to flake off it can be hazardous for small children and dangerous for the environment if the paint chips or flakes are left on the ground.

Lead-Based Paint Disclosure Requirements for Landlords

All sellers and landlords must disclose the presence of any known lead in a home or rental. Here are the steps, according to the EPA, landlords need to take to make sure they are following the letter of the law.

Landlords must:

  • Disclose any known information on the presence of lead-based paint in the building. That includes any common areas like laundry rooms or lounges.
  • Include a lead disclosure attachment to the lease or language in the lease that includes a Lead Warning Statement, and lets tenants know you’ve complied with all notification requirements.
  • Keep lead-based paint disclosure forms for at least three years after the lease of an apartment or other property.
  • Provide an EPA-approved pamphlet on identifying and controlling lead-based paint hazards to tenants.

The Department of Housing and Urban Development (HUD) provides the lead paint hazard pamphlet in several languages. They also provide the Lead Warning Statement in both Spanish and English.

To disclose the presence of lead, give prospective tenants any records about the inspection for or discovery of lead paint.

Keep in mind that you don’t have to provide this information every time a tenant renews, just when a new tenant is ready to sign a lease.

Lead Paint Disclosure Exemptions

Aside from renewals, there are other situations where you don’t have to provide a lead paint disclosure:

  • If your unit or property was built after Jan. 1, 1978
  • If your unit is a studio or loft with no bedrooms
  • If you’re renting for less than 100 days, like those on Airbnb
  • If your unit or building has passed a lead-free inspection by a state-certified inspector

Lead paint disclosure is an important part of the rental process, particularly if you rent to families with little children. Take steps to give your new tenants all the information they need and ensure they have peace of mind that makes a happy, healthy home.

Get Property Management in Houston Texas

Do you need property management for your Houston Texas rental property? Contact VestPro Residential Services by calling us at (832) 971-1841 or click here to connect with us online.

Should You Invest in Houston Texas Rentals Later in Life? Yes!

It doesn’t matter if you’re in you’re 50’s, 60’s, 70’s or even later in life, investing in Houston Texas rental properties is a smart investment because over the last 20 years real estate has been one of the best performing assets and that’s not expected to change anytime soon.

Although many people think that the time to invest in real estate is when you are in your 20’s, the reality is that real estate should be something that people invest in at any stage of their lives.

5 Smart Ways to Start Investing in Rentals Later in Life

Leverage (and build!) your network.

Think that 23-year-old rascal has a network like yours? Forget about it.

Take advantage of your superior network and double down on building an even stronger one.

Who do you know in the real estate industry? In the mortgage industry? In the construction and contracting industries?

Who do you know who has more money than they know what to do with and is looking for a project to invest in?

The electrician in your Friday poker group can refer you to trustworthy and affordable general contractors and handymen. The real estate agent in your bridge club may not service the area where you’re looking to invest, but she can refer you to someone who can.

Start assembling your dream team. After all, real estate investing is a team sport, and you have several more decades’ worth of contacts to draw on to fill out your roster!

Capitalize on your existing capital.

After being employed for several decades, you should have far more money set aside than some 23-year-old just out of college who’s scraping by on their entry-level income.

That extra capital is a competitive advantage!

Maybe you can afford to make cash offers to drive a harder negotiation and avoid financing fees. Or maybe you can afford a higher down payment to avoid mortgage insurance and having to resort to tricks like owner-occupied financing or relying on seller concessions for closing costs.

You may decide that you want to finance your rentals even though you can afford to buy in cash for tax or leverage reasons. But having more money at your disposal is a huge advantage over the young punks out there.

Use it to your advantage to negotiate hard, get the best possible financing, and move faster on deals than your competitors can.

Take another look at house hacking.

“Forget it, Brian! I don’t want to live in some trashy duplex!”

First of all, there are plenty of upscale multifamily dwellings out there. Don’t discount them just because your experiences with properties have been less than thrilling.

First, you could buy a home with an in-law suite and convert it to an income suite.e garage? In the basement? Something with a separate entrance of course, so you don’t have to mingle with the riffraff.

If you have a large garage space, could you rent it out as storage space?

4. Keep your eyes on the prize: income for retirement.

People invest in real estate for many reasons and in many ways.

As an older adult, consider putting “passive income” at the top of your priority list.

One of the things I love the most about rental investing is you can forecast your returns incredibly accurately, before ever putting a single dollar down as a deposit. You know the market rent, the neighborhood vacancy rate, the local property management costs, property taxes, insurance. You can accurately forecast CapEx and repair costs.

You’ll know exactly what kind of cash flow you can expect from a property before making an offer. This means you can only invest in properties with strong cash flow.

Appreciation may or may not happen sometime in the indefinite future. But cash flow isn’t based on future hopes and prayers.

Rental properties can be incredibly efficient income producers for retirement. The 4% Rule doesn’t apply; in fact, the whole notion of “safe withdrawal rate” goes out the window.

You don’t have to sell off any assets for the income produced by rentals. In fact, they produce more income over time, not less—rents go up, even as your mortgage payment holds steady (and eventually disappears)!

5. Snowball your extra income.

As an older adult, you’ve been at this whole “budgeting” thing for a while now. Granted, that could mean that you’re stuck in your ways—or it could mean you’ve learned a thing or two.

When young people get a promotion, the first thing they do is go out and find a way to spend their higher income. It could mean a better apartment, a better car, or just going out to more bars and restaurants.

It’s called lifestyle inflation, and it’s insidious.

As an older adult, hopefully by now you’ve witnessed firsthand how counterproductive lifestyle inflation is. Credit card debt? You’ve been there and done that. Faster cars? Not as sexy as they were when you were 20.

So, when you buy a rental property and start earning that extra $200, $300, $500 a month, what are you going to do with it?

Re-invest it.

Set it aside and put it in the stock market. Or in private notes. Or best of all, in more rental properties.

Because ultimately, you’re on a mission. Your mission, whether you choose to accept it or not, is to retire with more wealth, because more wealth brings more options. As you build streams of rental income, you can retire young, or keep working and building more wealth.

And when you retire, you can go travel the world if you want, rather than ducking into the Golden Corral before the Early Bird Special ends.

It’s never too late to start buying rental properties. If you invest strategically, you can accelerate your retirement saving, bend the 4% Rule and build a stable and permanent base of passive income.

Get Property Management in Houston Texas

For property management in Houston Texas contact Vestro Residential Services by calling us at (832) 971-1841 or click here to connect with us online.

Planning on Hiring A Humble Texas Property Manager In 2019? Click Here

Do you own one or more Humble Texas rental properties? If so, one of the best things you can do in 2019 is hire a property manager.

Learn More About Why You Should Hire A Property Manager

On the off chance that you own investment property, you deserve to have our Humble Texas Property Management service professionally manage your rental property for you.

Our property administration group will make dealing with your investment property simple. You can depend on us to offer you the following services: 

Tenant Selection

Tenant Placement

Rent Collection

Customer Service

Maintenance

Repairs

We Make Owning Rental Property Hassle Free!

Envision not taking calls from occupants again around evening time, or weekends. With our Humble Texas Property Management group, you can depend on us to be there for you, professionally dealing with your investment property and getting you the most ROI conceivable.

Enlisting a property management company costs significantly less than what you think! Besides being reasonable, our Humble Texas Property Management cost is equal to the cost of one Starbucks Coffee per every day.

Reasonable, Reliable and Trustworthy Property Management

Some property managers in the Humble Texas Area are not solid or dependable, they will take your cash and not furnish you with any genuine property management services. 

Thankfully, with our Humble Texas Property Management Service, you can depend on us to do what we say and provide you with the best property management services possible.

Owning an investment property will never be tedious again or a pain! Give us a chance to show you how we will simplify your life with our professional property management services.

GET HUMBLE TEXAS PROPERTY MANAGEMENT

For affordable Humble Texas Property Management contact Vestpro Residential Services today by calling us at (832) 971-1841 or connect with us through our site.

How To Know When It’s Time To Hire A Property Management Company

Are you managing your Houston area rental properties yourself? If so, you most likely don’t have a lot of time in your day to do the things that you want to do. In this case, you should consider hiring a property manager.

At Vestpro Residential Services, we will save you the time, money and hassle of managing your rental properties yourself. Some of the services that we can offer you include:

Rent collection
Maintenance
Property Marketing
And more!

Learn more about the services we can offer you by calling us at (832) 971-1841 or click here to connect with us online.