ProAPOD real estate investment software would like to thank you for choosing one of its real estate investing software solutions to partner with you in your real estate investment business.

During this past year ProAPOD issued a number of meaningful updates to its customers without charge, and has plans for even more free updates in 2007. We strive to make ProAPOD the best and most affordable real estate software of its kind on the market today and by golly, we’ve done that.

ProAPOD also introduced its real estate investor software this past year. This has been very well received by users, especially by new investors who have been looking for an easy way to determine whether or not a real estate investment opportunity meets desired investment goals. This software solution also provides a learning feature that allows beginning investors to learn how to calculate up to seventeen formulas for key returns.

As always, ProAPOD’s suite of real estate investing software solutions will continue to provide free telephone support. Although not a major issue to most users, we want all our customers to feel free to contact us with questions that will heighten their experience with our real estate software. We are always glad to assist.

Thank you again for choosing ProAPOD real estate investment software.

Please have a safe, prosperous and Happy New Year!

Given our newly-washed cars and those coveted designations hanging on all four walls of our office, one certainty can be said inherent to all real estate professionals: image matters.

It is surprising therefore, that so many real estate agents trying to market multifamily properties throw image out the window and do what some construe as the not-so-professional practice of simply throwing it up against the wall and hoping it sticks. A practice not highly appreciated by real estate investment professionals, and presumably not without adverse side-effects on any marketing campaign.

Whether you plan to market a duplex, multifamily units, or an apartment building, it’s important to understand the nuances of income property, what a real estate investor buys, and how best to present it to clients and colleagues. So let’s take a look at a couple of simple ways you can market your income property and kick your image up a notch in the process.

1. Show all the numbers. Don’t waste your time listing amenities unless they pertain to rent-ability, and always show the current monthly (or annual) rents for the units along with all operating expenses. It is frustrating when your marketing information does not include a list of rents and expenses because it prompts a call most would rather avoid so early in the process.
2. Run the numbers. Clearly show what the cash flow and rates of return are based on your numbers. It’s not that difficult for you to calculate financial measures like cap rate or gross rent multiplier. If you don’t know how, ask a friendly colleague who knows how, or invest in real estate investment software that does it for you. Having these returns readily posted makes you look like you understand investment property and in turn will do wonders for your image.
3. Present reports. Most inquiries about rental income property request a marketing package (i.e., executive summary) because it commonly shows the property’s income, expenses, rents, unit configuration, size, age, features, current loan information, and sometimes a picture or other information helpful to the investment decision process. The more reports you have ready to present (like an APOD, rent roll, or pro forma) the better you look, and in fact, the better the chances you will evoke a meaningful response. Here again, you can turn to real estate investing software for a wide-range of professional-quality reports if you don’t want to spend your time creating them.
4. Use meaningful numbers. Avoid the temptation to use pie-in-the-sky rents and expenses. Most real estate investment professionals and active investors are going to uncover them eventually, and they won’t appreciate the fact that you’re over zealous desire to make a sale caused them to spend their time and effort on an illusion.

Remember this, all investment property stands or falls on its numbers. An investor purchases income stream, and the price an investor is willing to pay for an investment property depends on the amount of that income stream. When you market a duplex or other income property and neglect those numbers, you are simply revealing yourself as one who has taken a listing and is looking for someone else to make the sale for you.

As a professional, you should care that this will negatively impact what your real estate investment colleagues think about you, and therefore should try to reverse that perception. It’s not that difficult and, who knows, your efforts might even lead to future income business.

Once you purchase a real estate rental property, you virtually become the CEO of your own small business. Sure, you feel good about becoming a landlord and owner of your own private money-maker, but unless it’s raw land, your work has just begun.

Now you must manage the property. As a real estate investor who has chosen the renting of apartments as a business, your goal now is to keep the units full, and at the highest rent per square foot possible.

So let’s consider the big picture of property management and look at some rental management basics every real estate investor should be aware of inside real estate investment.

1. Property condition. Getting the best tenants and commanding the highest rent starts with a sharp-looking building that has good curb appeal. Keep the structure, landscaping, common areas, and parking in good clean condition.
2. Tenant applications and screening. Require each potential tenant to complete an application, and then follow up to verify their employment, rental history, and credit and criminal history. Remember, it is always easier to get tenants into your building then it is to get tenants out of your building.
3. Emergency repairs. Be sure you have reputable maintenance personnel on-call to service emergency repairs. This may be your job or someone you hire, just be sure the tenant has a repair “help line” they can call 24 hours a day when something must be fixed immediately.
4. Aggressive marketing of vacancies. Get the word out about an upcoming vacancy instantly. Use signage, advertise in the newspaper, or post it on the web.
5. Move-in/move-out coordination. Always plan to get a unit “rent-ready” within a day or two after it becomes vacated. Even when you don’t have a new tenant in the wings, a clean unit ready to show a prospective tenant does help.
6. Keys and locks. It is always a good idea to change locks each time you have a turnover in tenants. This added security is good for you and your new tenant.
7. Learn the laws about eviction. Know what you must do to evict a deadbeat tenant even when you don’t think it is necessary.
8. Keep accurate books and records. Maintaining a good income and expense history is vital to your rental property business and the cornerstone to profitability.

Many real estate investors simply turn their properties over to professional management companies. The advantage being that it relieves the real estate investor of the time and stress of having to deal with tenants and repairs, and puts matters like late rents into the hands of experts.

On the other hand, a professional management company is not free. Moreover, in cases where the property is small enough for owner management, the cost of outside fees for professional property management might not be justifiable.

You must decide whether you want to hire out the management out or to do it yourself. The important thing is not to neglect a sound plan for property management. Otherwise you could find that owning and becoming CEO of your rental property business can quickly become more unpleasant than profitable.