Hi, I’m Scott Chappell. In my decades in real estate, I’ve heard all sorts of stories. Many of them cause me to shake my head. Not too long ago I was speaking with a woman who owned rental properties. She was also a lender, so she was in the real estate industry. When I asked her if she was working with a property manager, she answered, “No, $100 a month is too expensive! I can take care of it myself.”
A few months later, I learned her tenants had trashed one of her rentals. Another had also been damaged badly. As a result, she had to do a total rehab on both properties at a cost of about $15,000 each. Not only that, she went without the rental income from both for a full six months. In all it cost her approximately $55,000. The saying penny wise, pound-foolish comes to mind when I hear something like this. Her huge loss could have been avoided completely with a small monthly fee. An experienced property manager can actually make you money.
I also spoke with a woman, someone I considered to be real estate savvy, who sold a property and made substantial capital gains on the sale. She wound up paying $75,000 in capital gains tax. Had she hired an expert 1031 Exchange Accommodator, most, if not all of those taxes could have been deferred or eliminated.
What you don’t know can hurt you. Not only can I help if you need a property manager or 1031 Exchange Accommodator, my team and I can help you when you’re in the market to buy or sell real estate.
Call me at (951) 313-4350 or email scottlouischappell@gmail.com. Visit our website amazingtemeculavalleyhomes.com