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Real Estate

Pros and Cons of Property Management: Making a Wise Decision for Short-Term Rental Investing

Real estate is one of the most lucrative ways to build wealth and achieve financial freedom. In fact, ventures like short term rental investing allow you to make millions in real estate in a relatively short period of time.

But, with this type of investment comes the decision of whether or not you should hire a property manager. Well, like other services that you would use in the real estate business, there are certain advantages and disadvantages to this move.

Let us explore the pros and cons of property management to help you make a wise decision for your investment. So, read on!  

When Should You Use a Property Management Company

This would depend on the size of your rental portfolio, as well as the amount of time you are willing to dedicate to managing it.

If you only have a single property and can manage it yourself, then there’s no need for a manager. However, if you are a busy professional and have a large number of vacation rental properties, using a property management company would be a great way for you to ensure everything runs smoothly without much effort from your end.

Not only can they take care of marketing your rentals to potential guests and rent collection, but they can also handle maintenance issues and legal matters if any arise. Plus, you don’t need to be onsite round the clock—a property manager can do it for you, freeing up more of your time.

5 Pros of Using a Property Manager

Hiring a property management company for your short-term rental can offer you some priceless benefits. The following are reasons why it is a sensible decision.

1. Time Savings

As already implied, having a property manager can save you time. You will no longer have to spend several hours handling reservations, collecting rent, and maintaining the property.

It is also essential if you are investing in another state. This is because your manager can be your eyes and ears in that area, and they will help you make informed decisions. You do not have to spend a great deal of time traveling to the property just to keep yourself updated with what is going on with your business.

2. Professionalism

A good property management company will bring professionalism to your vacation rental properties, which is especially important if you have guests who require different levels of assistance. They will know how to handle different types of queries responsibly and professionally, making everything look seamless.

In a way, this company ensures your property will be attractive to travelers, as well as to businesses that may want to rent it for their events. This makes it easier to get more bookings and minimize vacancies.

3. Reduced Workload

As your property manager handles almost everything for you in running your vacation rental, you will have more time to focus on other aspects of real estate that you are passionate about. For instance, if you are also into flipping homes, you can use your free time for investing in it and improving your profits over time.

Or perhaps, you have another important business to run other than real estate or are employed in another sector. You can be sure to manage your time better and focus on other things that matter because you have a property manager taking care of your short-term rental business.

4. Increased ROI

Generally speaking, having a property manager can help you reduce expenses and optimize revenue, and increase returns on investment. They know the vacation rental market inside out and will strategically position your rentals to attract more guests and make more money from it.

An experienced property management company also knows the necessary steps to make your property highly visible and appealing to ensure high occupancy. For example, when you put your rental on listings, they know how to make it look excellent with enticing descriptions and professional photos. They would also know when your property already needs some updating.

Plus, they can adjust your rental rates accordingly to maximize profits. This is something you may miss if you are not familiar with the rental market. Without question, having a property manager can give you an edge over other competitors.

5. True Passive Income

Short-term vacation rentals are popular for being passive investments, but how much of that is really true when you are managing it yourself? With a property management company, you can enjoy true passive income as they handle all your rental tasks for you.

You don’t need to worry about filling vacancies or ensuring that your guests are getting a great experience while they stay at your property. Everything is covered by the company, and all you have to do is sit back, relax, and collect profits at the end of the month!

3 Cons of Using a Property Manager

Of course, there are also disadvantages to hiring a property management company. Here is what you need to keep in mind.

1. Additional Expenses

The first drawback that comes to mind when you hire this type of company would be the cost factor. Property managers charge a percentage of the rental income, so it is important to consider this before you decide if using their services will be worth it or not.

Calculate how much money they will be charging versus how much extra income you can make with their help. If you still gain the amount that you expect, then hiring them should be considered.

2. Limited Control

Another issue is that when you have a property manager handling your rentals, you may have limited control over what is happening with your properties. This means that there are certain decisions that require more consultation and discussions between you and the company’s staff. Such an arrangement might not work for everyone, as some investors might require more control over how things go with their properties.

3. Missed Opportunities to Meet New Interesting People

Owning a vacation rental will supposedly give you the chance to meet new people and even make new friends. But if you have someone doing the management on your behalf, then this will be limited as they are the ones who handle guest bookings and their stay.

So, “Should I use a property management company?”, you ask. When you assess the pros and cons of property management, it would be easy to say that using this service for your short-term rental investments is definitely worth considering. While there are advantages and disadvantages that come along with it, overall you can benefit from having someone knowledgeable and experienced to help you manage your rentals more efficiently.

You will save money in the long run, have more free time, enjoy increased ROI, and truly experience passive income with their services. So, if you think this is something that fits your needs, go ahead and hire a property manager today!

Hiring a Property Management Company: Important Tips to Keep in Mind

Man and woman standing while holding vacuum cleaner

Now that you know the advantages and disadvantages of using a property management company, it is time to hire such a service. To make sure that you get the best out of it, here are a few tips to keep in mind.

  • Look for a property manager with good experience in short-term rentals.
  • Do your research to check if the company provides satisfactory customer service.
  • Make sure you are aware of all fees and charges before signing a contract.
  • Check references from previous clients.
  • Read through their management agreement thoroughly and ask any questions that come to mind.
  • Get a clear understanding of how the company will handle various tasks, such as marketing, bookings, maintenance, etc.
  • Always communicate with your property manager to make sure things are running smoothly at all times.
  • Have a plan on how you can take back control of your properties when needed or desired.

Aside from these, you can also gather some useful pieces of information from an 8-Step Hiring Process article that also offers tips on how to attract the best candidates for your short-term rental property management needs.

Wrapping Up

Investing in short-term vacation rentals requires proper understanding and experience. And, when it comes to managing your investment, hiring a team to help you run and take care of your property could be the best decision you can make.

Considering the pros and cons of property management will help you determine if their services are worth investing in or not. But if you think this is what you need to get your rental business up and running, then go ahead and follow the tips mentioned above for successful results.

For more information that you can use for investing in real estate, feel free to check out the rest of our posts. Good luck!

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Oregon, Real Estate

Best Neighborhoods In Eugene Oregon

Finding the right neighborhood can make or break your experience as a homeowner. Many people will opt to purchase a home based on the location alone, which can be a mistake. Homeowners often form strong emotional bonds with their neighborhood, so it’s important to choose correctly from the beginning.

If you’re in the market for a home in Oregon, take your time and consider all your options. You don’t want to overstress yourself with an intense search, but you do want to make the right decision.

Eugene is a great place to live in Oregon. It has many beautiful neighborhoods to choose from. Take a look at a list of the best neighborhoods in Eugene Oregon and why you should consider it as your next home.

Is Eugene A Good Place To Live

Many people move to Eugene because they want to be a part of the vibrant community that is constantly growing and changing. It is a great place to live if you have an active lifestyle and like being close to nature.

The city has numerous outdoor activities, from rock climbing in Skinner Butte Park and hiking at Spencer’s Butte Park, two popular spots for locals and tourists alike. Eugene is also a great place to raise a family, with plenty of schools, parks, and activities for kids. It is a vibrant downtown area with many restaurants, shops, and entertainment options. There are also several colleges, including the University of Oregon and Lane Community College.

The city has a small-town feel and is easy to navigate. There are plenty of neighborhoods to choose from, ranging from historic districts to newer developments. Suppose you are looking for something affordable with a great location and an active lifestyle. In that case, Eugene is a good place for you.

Top Neighborhoods: Where To Live In Eugene Oregon

Eugene is a great place to live, with a wide range of neighborhoods and housing options. Hence, it is easy to find something that meets your needs. The city has plenty of great areas, each with its own unique feel and style. Here are a few of the best neighborhoods in Eugene Oregon to consider.

Churchill Area

Churchill is a neighborhood in Eugene, Oregon, that is always growing. It’s one of the most densely populated areas in the city and has seen a lot of new development. It’s also known for its great schools and access to parks, including Wild Iris Ridge Park.

It has many restaurants and shops within walking distance, making it a great place to live if you want to be near everything without needing a car. Several bus lines run through Churchill on their way into downtown Eugene, so getting around town by public transportation is easy as well.

Friendly Area

Friendly Area is for you if you’re looking for a neighborhood close to downtown but still maintains some of the feels of a small town. This neighborhood is located just south of downtown. Westmoreland Park is a popular spot in the area.

The park has a disc golf course and several walking trails that are perfect for relaxing or exercising in nature. There are also several playgrounds and picnic areas within the park, so it’s a great place to bring the whole family.

It’s got a vibrant sense of community. You’ll see neighbors chatting on their front porches, kids playing in the park, and people walking their dogs on the block. The city’s residents are also very friendly, which makes the neighborhood feel like home.

Crest Drive

picnic in the neighborhood

Crest Drive is one of the safest neighborhoods in Eugene, Oregon. It’s close to downtown but also has a quiet residential feel. The homes are beautiful and unique, and there are plenty of parks for kids and green spaces for adults.

It is close to some of Eugene’s best parks, including Wayne Morse Family Farm, which is amazing for people with dogs. The neighborhood is safe and peaceful, making it a great place to raise a family. The schools are also excellent, which is important for parents who want their kids to get a good education.

Southeast Eugene

Southeast is the most diverse neighborhood in Eugene, OR. The home prices here are low, and you can find everything from big old Victorians to brand-new condos. Also, there are a lot of families and young people who live here, which makes the neighborhood feel vibrant and lively.

For outdoor recreation, there are plenty of trails and parks nearby. Try Skinner Butte Park or Tugman Park if you want to get outside on weekends or enjoy some time away from city life. The neighborhood is safe and peaceful, making it a great place to raise a family.

Cal Young

Cal Young is a neighborhood located in the northern part of Eugene. It’s a great place to live if you’re looking for a quiet community where you can still walk to stores and restaurants. Also, it’s a good choice if you want to live close to recreation and outdoor activities.

One thing that sets Cal Young apart from other neighborhoods in Eugene is its proximity to some of the city’s best attractions. The Oakway Golf Course and Eugene Country Club are within reach, making this an ideal location for golfers.

Oakway Center, a mall filled with shops and restaurants, is also located here. Moreover, if you love Mexican dishes, Chipotle Mexican Grill is just a few blocks away from it.

Laurel Hill Valley

Laurel Hill Valley is a charming, quiet neighborhood in the suburbs of Eugene Oregon. It’s within convenient distance of the city center, but far enough that it remains quiet and peaceful. It has easy access to all of the local shops and restaurants and plenty of public transportation options.

The homes are beautiful and spacious, with large yards and plenty of room for kids and pets to play. There’s also a great community in this neighborhood because there are so many friendly neighbors who get together regularly.

Fairmount

If you’re looking for a quiet, residential neighborhood with plenty of green space, look no further than Fairmount. The area also has great access to public transportation. Moreover, Fairmount is just a short drive from downtown and all of the popular attractions.

Fairmount has several options for residents who want to get out and enjoy the great outdoors, from parks to gardens. Hendricks Park is within the neighborhood, where you can play tennis or take your dog for a walk on the trail. You’ll also find plenty of picnic spots in this park.

Amazon

Group of People Enjoying Music Concert

Amazon is one of the most interesting neighborhoods in Eugene, Oregon. Located along Amazon Parkway, this community is known for its proximity to businesses and residential properties. The neighborhood’s residents enjoy amenities like a park and walkability to local businesses.

This neighborhood offers residents a charming mix of small businesses and local shops. There are also several parks in the area, including Amazon Park, which features an open space and playgrounds where community events are held year-round.

Santa Clara

If you want to live in Eugene, Oregon, but want to make sure that you get a good deal, then Santa Clara is the place for you. This neighborhood has everything you need in a great neighborhood. It has beautiful homes and lots of green space, which makes it perfect for families with children.

It also has a variety of grocery stores, such as Safeway and Fred Meyer, making it easy to shop for your groceries without driving very far. The area is very walkable, with plenty of sidewalks and bike lanes.

The majority of housing in Santa Clara consists of single-family homes or duplexes. Condominiums and apartments are also available for rent or purchase. There are many old homes in the area, but new ones are also being built.

Harlow

The Harlow neighborhood is a great place to live if you’re looking for a quiet, family-friendly neighborhood with easy access to downtown Eugene. It’s also just far enough away from the hustle and bustle that you won’t feel like you’re in the middle of it.

Harlow is known for its proximity to the University of Oregon and Autzen Stadium, home of the Ducks football team. It’s also close to Alton Baker Park, which makes it easy to get outside and enjoy nature in all its glory. The riverfront is just across from this neighborhood as well, so there are plenty of options when it comes to walking, riding bikes, or taking a jog along its banks.

Wrap-Up

If you want to get a feel for a neighborhood, the best thing that you can do is visit it in person. When you’ve made an appointment to see a house or condo, take a walk around the neighborhood.

See what the shops and restaurants are like in the area and how safe people say it is. Observe where families with children tend to live versus those without.

In the end, you will see that this topic is highly subjective. No two property hunters are exactly alike, which means that you won’t find two people with exactly the same list of best neighborhoods.

Now that you know Eugene Oregon best place to live, you can get started on your own list. Hopefully, the list above has helped you narrow your search for a new place to call home. After all, the more you know about the neighborhood, the easier it will be for you to find the perfect place to call home.

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Podcasts, Real Estate

Which Is the Best Podcast for Beginner Real Estate Investing?

When it comes to the business of real estate, learning from the best in the trade is essential. That is why, if you are new to the game, listening to the best podcast for beginner real estate investing will go a long way. From advice on how to get started to tips on how to close a deal, real estate podcasts are good sources of information for anyone wanting to get their foot in the door of the industry.

But there is one small problem—with the endless number of podcasts out there, which ones should you be listening to?

Don't worry, we've got you covered!

10 of the Best Real Estate Investing Podcasts That You Must Follow

We recommend the following real estate investing podcasts to follow and listen to regardless of your investment criteria.

1. Wealth Through Real Estate Investing Show with Dwaine Clarke

If you are looking for the best real estate investing podcast that can provide you with actionable advice, then you need to tune in to the Wealth Through Real Estate Investing Show with Dwaine Clarke.

Clarke is a successful real estate investor and self-made millionaire who now dedicates his time and energy to helping others achieve financial freedom through real estate investing. On this show, he interviews some of the top minds in the industry and shares workable tips that you can use to get started in real estate investing. Thought leaders would also share stories that touch on various topics, from creative financing to making your first offer.

Known for its insightful and impactful conversations, this podcast is a must-listen for anyone who wants to get started in the real estate business.

About the Host:

Clarke is the owner of NNN Deal Finder, a website that helps investors find triple-net lease properties. He is also the author of some top-selling real estate books, such as "Apartment Building Wealth," "Real Estate Mail Box Money," and "The Real Estate IRA Investor's Guide."

2. Cash Flow Agent Show

Hosted by Huy Nguyen, who is also known as the "Cash Flow Agent", this podcast is all about helping listeners achieve financial freedom by investing in real estate. Here, Huy interviews successful guests and picks their brains on how they achieved success in the industry. He also covers various topics related to real estate, such as wholesaling, flipping houses, land-lording, and more.

This podcast is perfect for beginners who want to get an understanding of how various strategies work and which one would fit their investment goals.

About the Host:

Huy is an investment property specialist who helps people buy, sell, and invest in properties. In just a few years of engaging in real estate, he already owns and operates multiple businesses, with amazing agents by his side helping others make wise decisions and achieve success.

3. The WealthFit Podcast

There is a reason why FortuneBuilders ranks this show high on their list of the best real estate podcasts for new investors. After all, this podcast hosted by Dustin Mathews is not only about real estate investing, but also about how to create wealth in general.

You will definitely have fun listening to Mathews get into the minds of today's top investors, money-makers, and other influencers to understand how they achieved success. You will also be able to learn a lot as he covers various topics related to wealth-building, such as money mindset and goal setting.

About the Host:

Mathews is the co-founder and Chief Education Officer of WealthFit, which is a leading financial education platform. He is also the founder of Speaking Empire, which is a leadership training and education company, as well as the author of several best-selling books related to marketing, such as "R.O.I. Marketing Secrets Revealed" and "New Rules of the Game."

4. The Remote Real Estate Investor

Two microphone use for podcast

This is one of the few podcasts that have been seeing a growing segment of investor followers. According to Roofstock, the Remote Real Estate Investor is one of the must-listen real estate investment podcasts in 2022.

This show is hosted by three experts in the field—Tom Schneider, Michael Albaum, and Emil Shour. Together, they share their insights on a wide range of topics related to remote real estate investing. This is perfect for those who want to get started in real estate investing but do not have the time or energy to be on site all the time. It is also a great way to learn about various strategies and how to implement them successfully.

Some of the topics that you can expect to be covered on this show include long-distance property management, market identification, property analysis, risk mitigation, and a lot more!

About the Hosts:

Altogether, Schneider, Albaum, and Shour have over 50 years of experience in the real estate industry. They are also the co-founders of a real estate investment platform that helps connect investors with opportunities in the US housing market.

5. BiggerPockets Real Estate Podcast

This is one of the most popular real estate podcasts out there and for good reason. After all, it is hosted by none other than Brandon Turner and David Greene, two of the most well-known names in the industry.

On this show, Turner and Greene interview big names in the real estate investment business and have them talk about how they have achieved success in their respective careers. If you want some real estate investing advice that can definitely help you make the biggest bang for your buck, this is the podcast for you.

This show is also a great way to stay updated on the latest trends in the industry and learn about different strategies that you can use in your own business.

About the Hosts:

Turner is an active real estate investor and writer who has taught millions of people to find, purchase, and manage investment properties. He is also the Vice President of Growth and Communications at BiggerPockets.

Meanwhile, Greene is also a successful real estate investor who is known for his brilliant property-flipping strategies. He is also the author of some books, including "Long-Distance Real Estate Investing."

6. America’s Commercial Real Estate Show

As the name suggests, this awesome show covers various topics related to the commercial real estate industry. Hosted by Michael Bull, this podcast will bring you the latest news, insights, and analysis on the market. It also broadcasts some interviews with experts and thought leaders in the field.

This show is not only perfect for those who want to engage in the commercial real estate scene and start making money from it, but it is also useful to those who are already in the business but want to stay updated on the latest trends.

About the Host:

Bull is a leading authority on commercial real estate and has been involved in over $2 billion worth of transactions. He is also the founder and CEO of Bull Realty, which is one of the largest independent brokerages in the US specializing in commercial real estate sales.

7. The Real Estate Rookie

Man with white shirt talking at the microphone

By the name itself, you can already guess that this would be the best podcast for beginner real estate investing. This show tops Resonate Recordings’ list of podcasts in terms of helping new investors grow and realize their goals.

The hosts, Ashley Kehr and Tony J. Robinson, will give you a lot of insights and tips that you can use in getting started in real estate. You will also learn about how their guests made it big in the industry, which can surely inspire you to do the same.

What also sets this podcast apart is that it focuses on real estate investing strategies that are accessible and achievable for new investors. This way, you won’t feel overwhelmed by the amount of information that you will get from this show.

About the Hosts:

Kehr is a real estate investor, author, and coach who specializes in helping people achieve their financial goals through real estate investing. Robinson, on the other hand, is a successful real estate investor, syndicator, and consultant.

8. The Real Estate Guys

This podcast/radio show takes podcasting to a whole new level. It is one of the longest-running real estate investing shows in the world, having been on air since 1997.

Hosted by Robert Helms and Russell Gray, this show focuses on helping its listeners achieve their financial goals through real estate. It also provides some updates on the latest industry events. And, as a new investor, this would give you the opportunity to get out there, meet fellow investors and mentors, and gather some insights on the best deals that you can get your hands on.

About the Hosts:

Helms has been involved in all aspects of real estate for more than two decades, with a diverse background in the business of buying and selling properties, as well as the media. Today, he is a successful real estate developer, with projects exceeding $300 million in value.

As for Gray, he is not only Helms's sidekick on the show. He is a successful financial strategist himself, with a career background dating back to 1986.

Together, Helms and Gray co-authored the highly regarded book, "Equity Happens."

9. The Real Wealth Show

Building wealth through real estate is so much easier with the tips and information that you can pick up from the Real Wealth Show with Kathy Fettke. This is a weekly podcast that features interviews with successful real estate investors and other industry experts.

Each episode focuses on a particular topic, which can be anything from capital financing to tax lien investing. You will also get some nuggets of wisdom on how you can build your own real estate empire, regardless of your starting budget. And, if you’re new to the business, don’t worry—the hosts make sure to keep the episodes as informative and entertaining as possible.

About the Host:

Fettke is the Co-CEO of Real Wealth Network and a best-selling author known for her book, "Retire Rich with Rentals." Aside from the Real Wealth Show, she is also the host of another podcast called Real Estate News for Investors.

10. Kevin Ward’s Yes Talk

Last but definitely not least, we have Kevin Ward’s Yes Talk. This show is all about helping new investors take their businesses toward growth and success. You will hear success stories from various guests, as well as some tips and advice that you can use to grow your portfolio.

This podcast features a lot of inspiring stories from different types of real estate investors. You will surely be motivated to achieve your goals after listening to this show.

About the Host:

Ward is a well-recognized real estate trainer and speaker who delivers powerful and dynamic training on skills, systems, strategies, and scripts that help investors establish the right mindset for success. 

The Best Real Estate Investing Podcast for Your Investment Criteria

Black microphone use for podcast

So, which is the best podcast for beginner real estate investing? It really depends on what your investment goals are and what you hope to achieve by listening to these shows.

If you’re just starting out, then the Real Estate Rookie would be a great choice. For those who are looking for more advanced topics, BiggerPockets would be a good fit. And, if you want something more general, then the Real Estate Guys or the Real Wealth Show would be great choices.

Whatever your preference may be, there is definitely a real estate investing podcast out there that suits your needs.

For more interesting real estate tips and information, check the Icons of Real Estate Podcast!

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