We choose the best-valued property together. If you would like to buy for yourself, or for your family a second house in Florida, we are here to help. Maybe simply you would like to earn more income from your investment out-of-state or overseas. In both conditions, we help you to acquire the best-value Single Family Residential. We have a huge network and highly talented team that backs us for becoming the leading company in the industry. If you would like to acquire a rental out-of-state as well, we can still help you, just give us a call to learn about the details.
We can basically divide single-family rental homes into two different categories as;
Short-term rentals create higher income relative to long-term rentals; however, if it is a small unit, and not in a good location, then it will bring you more headaches than the income. As a result, you would probably start looking for buyers for your investment and try to get rid of the investment as fast as possible. During the process of selling and buying another one, wasting all this time might cost you more than you expect. Even only for the headache, you might wish you would never have made this kind of decision. Because of this reason, we work very intensely with you to make the right decision for your investment.
As we have mentioned before, short-term rentals create a higher return on investments. However, it has higher traffic compared to long-term rentals. Long-term rentals usually consist of a family of four, parents, and two children. They usually use the kitchen, or bathroom very carefully, and don’t spend too much time in the house as they work or go to school most of the day. On the other hand, short-term rentals have much higher traffic. Renters usually come with their other family members, go outside and come back to the house multiple times a day. They use the bathroom and kitchen more carelessly which eventually ends up with broken kitchen cabinet hinges or broken flush of the toilet etc. Because of these very reasons, the initial repairs of the house must be calculated very scrupulously. Every expense has to be scrutinized very well to decide either to make expenses or not to make any. Most used things at home have to be of better quality to last longer for this high traffic and careless use. For example; the flooring has to be of high quality, it definitely has to be waterproof in case of a tenant dropping a glass of water, or coming inside the house with wet shoes from outside. So, the flooring should not swell quickly and seem very ugly. It also has to have a scratch and scuff resistance feature in order to last the outlook new and clean as always. And more importantly, the manufacturer company must provide a warranty and must prove that they are backing their products in written on the product case. And there are so many other factors and things that have to be picked and analyzed very carefully before opening the doors for short-term tenants.
The second category of single-family rental houses is long-term rentals. These rentals are more attractive for seasoned investors, as those investors know that their return from their income must be steady all the time instead of fluctuating and become time-consuming for them. However, if the long-term house is purchased in a low-income neighborhood, and has a low-income tenant in it, then this could be another nightmare for the investor. Low-income tenants also mean unsteady rental income for the investor. If the tenant cannot pay on time – which happens most of the time – then, the investor cannot get the return on their money. Moreover, not only that the tenants can pay late, but they also might not pay at all and can still stay at your home for a long period without paying you a penny. Then the eviction process would start and last at least for a couple of months. Especially if you do not know the eviction process well and if the laws of your state tenant-friendly, you would left at your lawyer’s will. Then he/she might prolong the case as long as possible, as they would be making more money from you in this way.
Because of these very and untold other reasons, North Royal Properties LLC, will walk with you all along the process and never leave you alone and on your own during the process. We take all the responsibility and do the business together, invest together, earn together. Your loss becomes our loss, and your return becomes our return.
Contact us now to learn about the best investment strategies for you.