The real estate investment firm you choose when you buy property for wealth creation is crucial for long-term success. While websites can look flash, taking a peek behind the scenes at the services and expertise they offer is far more important for turning your goals and dreams into bricks and mortar.
For an investor, a reputable real estate investment firm acts as a business partner with the experience and knowledge to maximise profits and put risk management processes in place to protect you and your financial future.
Hindsight is always a little too late, so make sure you research your chosen real estate investment firm before you sign on any dotted lines.
When you’re putting big dollars into property, you want to make sure you choose a real estate investment firm that delivers on its promises. But, there are plenty of companies to choose from out there – how do you find the right one for you?
Hyland Investments are a team of experienced property professionals who live, work and lead ‘by example’, so it’s unsurprising that we have built up an impressive list of satisfied clients. We pride ourselves on passing the ‘litmus test’ of real estate investment firm success.
But if you want to know the big questions to ask when you’re looking for a property firm to partner with, we’ve provided them here:
Finding a great real estate investment firm
- Are they are experts in diverse property strategies?
Your real estate investment firm should have the expertise and ability to work with you in designing a diverse strategy that will ultimately meet your financial goals using a cross section of assets rather than one specific type of property.
Turnkey properties, townhouses and houses all appeal to different markets and yield different results, which spreads – and therefore reduces – your investment risk. Even better is a real estate investment firm that can then help you structure your finances for optimal tax benefits and borrowing power.
In terms of properties, they should be able to provide current and historical data about particular real estate markets, including:
- local market trends
- population demographics
- local zoning laws and ordinances impacting property use
- whether a particular market will remain a good investment into the future
- Do they communicate effectively?
Where communication is lacking, misunderstandings abound – and in property, that can be costly in both time and money. A successful partnership cannot exist without an effective flow of communication between both parties.
Ask about their procedures for keeping in touch, for example:
- How will you keep me informed of developments as they happen?
- What kind of personal service and frequency of communication can I expect?
- What landlord/property manager processes do you have in place to keep me informed on my property and tenants?
A reliable real estate investment firm will have solid communication procedures in place and keep you up to date on your progress or property consistently.
- Are there any red flags in their past?
Do your homework on the firm’s business history. You can check court records with the Australian Competition & Consumer Commission to see if any legal action has been taken against the investment property company or its property management service.
You can also check a company’s history via the Australian Securities and Investments Commission (ASIC) website.
- Can they back up their claims with real evidence?
If you’re looking for property management services, your real estate investment partner should be able to back up their claimed successes with documentation on any properties they’ve managed for longer than a year.
Verifying such claims will allow you to review maintenance costs, property management costs, occupancy rates, and other expenses to help you better determine whether the company is going to be a good partner.
In terms of sourcing properties, the firm should be able to give you some real-life numbers and statistics on the real estate transactions that take place.
- Do they provide more than one service?
Real estate investment firms with in-house management services tend to provide more reliable service than an exclusive property management company. That’s because if you’re satisfied with their service, you’re likely to return to them when it comes time to purchase another rental property.
Look for companies that can offer a wide variety of professional services, such as financial structuring and planning, and project management.
- Do they help after the transaction is done?
A partnership with a real estate investment firm shouldn’t end once the key is handed over. Find out what after-sale support is offered – do they provide property account-management services and follow-up consultations? Will they monitor your strategy to keep you on track and moving with momentum?
Don’t miss this crucial step!
Real estate investment in Australia is highly competitive right now, so it’s more important than ever that you put some time and effort into finding a firm that’s right for you.
Hyland Investments are a real estate investment firm that doesn’t just steer you in the right direction – we are passionate about educating our clients too, so you can be sure you’re making the right choices for you and your family.
We offer obligation free consultations to answer your questions and provide advice on your property journey. Contact our team today to get started!