There are many ways to invest in real estate in North Texas. As locals and property management experts, we’ve seen them all. People can buy a “plug and play” commercial building already occupied by a tenant. Or they can add their stamp by purchasing an old warehouse and restoring it. Another option is buying a lot and building from the ground up. It all depends on the time and personal effort someone wants to devote.
The same happens in the residential area. Property investment in single-family homes is a hot market around Garland, Texas. And we’ve seen homeowners take advantage of their property’s financial opportunities. Like in other real estate ventures, those who invest in single-family homes can have different approaches. Some prefer to buy a new turn-key home with the latest furnishings. Others would instead put their “sweat equity” into an older house needing significant renovations.
Studies show 55% of homeowners have done their renovations (https://todayshomeowner.com/home-finances/guides/top-home-remodeling-statistics/). And home improvement sales are expected to reach $620 billion by 2025. Many people would instead get their hands dirty and do the work themselves!
Homeowners keep their attitude the same when renting their single-family homes in Garland. Some homeowners give us the keys and trust us to handle the rest. They want the check. Others prefer more communication and would like to be involved in every decision. We can support both!
Our Property Management Team “Walks the Talk” in North Texas
Owning a residential property is different from other long-term investments. People can handle financial investments like stocks, bonds, and mutual funds from home. An online conference call with the financial advisor may suffice. There is no need to drive out somewhere and “visit” your mutual fund to ensure all is well. Real estate requires showing up. Managing tenants via the phone and driving by the house infrequently does not provide a clear picture of how things are going. Property management involves a lot of “boots on the ground” time. And out-of-state property investors won’t have the time to show up in person on a regular basis. That’s why there’s an advantage to working with a Garland Texas rental property management expert.
Our team makes it a point to schedule regular visits with renters and take an assessment of the property. Is there a leak in the sink that needs attention? Maybe the tenant taped over a broken window because they didn’t want to bother us? When we say we go over and above expectations caring for a home rental in Garland, Texas, we walk the talk.
Outside investors can find an Texas Property Management Firm to Help
Home investments are very different from standard financial tools like stocks. First, the stock market is volatile. Owning stocks could pay off, or an investor can lose it all. Property ownership is traditionally more stable. A home in the right location can retain value or build equity over time. There are several pros to investing in real estate (https://www.nerdwallet.com/article/investing/real-estate-vs-stocks-which-is-the-better-investment). One significant advantage to keeping a home rental are the tax advantages such as:
- Mortgage interest can be deducted from the rental income.
- Lower taxable income via depreciation deduction.
- Reporting financial losses to offset other income
If you need to speak to our Garland Texas rental property management team, contact our nearby Plano firm (https://www.ntxpm.com/contact-us/)! We handle single-family homes, condos, and townhouses throughout the North Texas Area.