Peter Bubel+ by | Jan 8, 2019 | Blog
Travel properties can be a strong investment, but it can also be hard to optimize the portfolio. Fortunately, there are a few promising techniques that most investors should consider using to take advantage of current and anticipated trends.
Invest in Short-Term Housing
When most people hear about travel properties, they think of hotels and timeshares. Those can be a good part of a portfolio, but the market is shifting to favor services that rent out apartments or other spaces for short periods. Some people are even using their second homes in this way when they are not living in those buildings. Most investors will want to consider including some of these services in their portfolios along with the more traditional options so they can capitalize on this trend.
Watch for Technology
Technology is king in almost every branch of the modern economy, and the hospitality industry is no exception. Every investor should try to stay up to date on the latest technologies that relate to their investments and take advantage of them when they can. For example, digital platforms are making it easier to manage multiple properties at once, and guests are relying more and more on the Internet to find places to stay. An owner that uses management programs can cut their costs while boosting their appeal to guests, while those who use digital marketing can attract more people at a lower cost. This is especially important when marketing a property towards young people because they are more at home on the Internet than previous generations.
Look at Services
While plenty of people are switching over to temporary apartments rather than traditional hotels, they are finding that there is a downside to that choice. Those accommodations often lack services, such as good cooking, that hotels can offer to their guests. Some people do miss those services even though they prefer temporary rentals for other reasons.
That means that businesses that offer a good blend of services to their guests have a chance to stand out from the crowd. Investors should make a point of looking at the special amenities that each of their potential purchases can offer to guests and weigh those amenities heavily when deciding on their investment plan. Little touches really can make a big difference!
Peter Bubel+ by | Dec 3, 2018 | Property Management
Many successful real estate investors rely on property management companies to manage their investments. However, not all companies are created equal. Hiring a bad property manager can actually hurt an investor’s profit. With that said, here are some qualities that separate the good companies from the bad companies.
Works on the Property Owners’ Behalf
A good property management company puts their own self-interests aside and makes decisions based on the property owners’ needs. For investment properties, owners’ want to either generate passive incomes or watch their properties increase in value. A good company will protect the investment by immediately dealing with repair and maintenance issues. A quality management firm will recommend modifications and upgrades that will increase property values, and it will provide thorough tenant screening to guarantee timely rent payments.
Collecting Rent
This is the biggest problem many investors face when they maintain their properties on their own. A good property management company can eliminate the hassle of trying to collect rent from tenants who are constantly late. The company will work to maintain consistent monthly cash flows and start the eviction process for those tenants who do not pay rent.
Vacancy Rates
Vacant units equal lost money. Quality property management companies work hard to prevent properties from sitting empty for too long. Shorter vacancy cycles are the catalyst to passive income, and good companies will identify why a property has units sitting vacant. Whether it is repairing or renovating a property or determining the best rental rates for that particular market, a reputable management company will make recommendations that are proven to shorten vacancy rates.
Marketing
A good property management company can market a property effectively. Successful managers understand their rental markets and know how to target specific renters. Therefore, they know where to advertise and what to say when they do place an ad. Good companies also understand the power of the internet and the digital age. An effective marketing strategy must consist of an online presence, and quality property managers know how, when and where to execute a digital strategy.
A quality company also assists property owners with taxes, insurance and any other financial issues that can hurt an investor’s bottom line. More freedom, less stress and more time are what a good management company delivers to its clients.
Peter Bubel+ by | Nov 20, 2018 | Property Management
Investing in real estate is one of the best ways to build wealth over a long period of time. Many people have had great success buying a real estate property and renting it out over time. Renting out a property has several financial advantages for the owner. Not only does the real estate property produce monthly income, but it also appreciates in value over time. With all of the changes happening in the real estate market, now is a great time to invest.
One of the most important aspects of owning a rental property is property management. Hiring a property management company is a vital part of having success. Here are some of the biggest benefits of hiring a property management company.
Less Hassle
Perhaps the best benefit of hiring help is that it saves time and reduces hassle as an investor. Answering calls during the middle of the night is never fun. Instead of dealing with these issues, you can hire a property management company to do the dirty work.
As an investor, it is important to think about ways to save time whenever possible. For a low cost, you can avoid a lot of the major issues of renting. Always make sure to conduct thorough research before hiring a property manager.
Maintenance
Another vital part of owning a rental property is regular maintenance. Regular maintenance is a vital part of keeping the home in great working condition. There are few homeowners who spend enough time in this area. Finding a problem early in the process is a great way to save money in the future.
Many of the most expensive systems within a home run more efficiently when regular maintenance is completed. A property management company can help you throughout this process when you hire their services.
Finding Tenants
Finding tenants is one of the biggest issues that many homeowners have when renting a property. Finding quality tenants is never easy. However, many property management companies have a lot of experience in this area. When you hire a tenant yourself, you have to spend many hours finding someone to live in the home. Not only that, but you have to conduct a background check on potential tenants.
This is all work that a property management company can perform for you. As a real estate investor, managing your time is as important as managing your money.
Peter Bubel+ by | Sep 22, 2018 | Blog, Pennsylvania, Peter Bubel
There is a lot more to do in Pennsylvania than just what Philadelphia and Pittsburgh have to offer. As any Pennsylvanian knows, those two cities make up a small part of the great commonwealth. Below, you’ll find a list of the top five free (yes, FREE) things to do in Central PA. Each is available year-round and each will leave a lasting impression of what makes Pennsylvania so great.
#1 Admire the State Capitol
Harrisburg’s capitol building (http://www.pacapitol.com/) is a stunning representation of its history and dreams for the future. A grand staircase welcomes visitors into the building and the stately rotunda encourages all to look to the heavens. And yet, it is not merely an aesthetically pleasing visit. With guided tours of the House of Representatives and Senate available, the capitol provides educational opportunities to all who enter.
#2 Indulge in Hershey’s Chocolate World
A short distance from the capitol lies one of Pennsylvania’s most aromatic places to visit. Hershey’s Chocolate World (https://www.hersheys.com/chocolateworld/en_us.html) brings the process of turning cocoa into chocolate to life with the sights, smells, and sounds of a simulated factory setting.
#3 Experience the craft quality of the Yuengling Brewery
You don’t have to be 21 to tour America’s oldest brewery. With a history that spans nearly 200 years, Yuengling’s tours (https://www.yuengling.com/) are tailored to educate visitors of all ages about its unique and interesting story of survival through some of our nation’s most turbulent times.
#4 Remember the fallen at the Flight 93 Memorial
The 40 passengers and crew that gave their lives on 9/11 are remembered at the Flight 93 Memorial (https://www.nps.gov/flni/index.htm). Their bravery is symbolized in the recently dedicated Tower of Voices, a 93-feet tall wood chime. A place to reflect and remember, the memorial provides all visitors the opportunity to unite and show respect.
#5 Enjoy the view at the Pennsylvania Grand Canyon
The Pennsylvania Grand Canyon (http://pacanyon.com) is the perfect place for anyone loving the outdoors. Hiking, camping, covered wagon rides, and white water rafting are just a few activities the area has to offer. For those looking for a less adventurous visit, the amazing vistas are enough to entertain anyone. Stretching more than 45 miles and reaching 1,450 feet deep, the canyon is as grand as it is beautiful.
Peter Bubel+ by | Sep 15, 2018 | Blog
It isn’t hard to find ways to give back to the community. When looking for something to dedicate one’s time to, the opportunities are endless. Whether it’s volunteering for a local festival or donating one’s time at a local soup kitchen, there is always an organization that can use some extra hands.
Volunteering In Your City
To find a worthy organization of one’s voluntary efforts, one has to do a bit of searching. Looking for a way to get some volunteering done? Read on for five ways to volunteer within the community.
Search for Local Events
Looking out for local events in the city is an excellent way to find opportunities to volunteer. Events like concerts, festivals, farmers’ markets, and other family-friendly gatherings generally always accept volunteers. Keep track of new happenings by reading the newspaper, searching for a local event on Facebook, and asking friends and family if they know of anything happening.
Explore Different Ways to Volunteer
One doesn’t have to limit their volunteering to work at a special event. Think of all the many places in the city that would benefit from having an extra set of hands. Places like the animal shelter and elderly homes are always accepting anyone willing to donate their time.
Donate Clothes, Money, Food, and More
While one may want to volunteer their time, donating doesn’t always have to involve someone being physically present. Go through any old clothing, canned goods, books, or other potentially secondhand items that may be in the house. If these items are still in good condition and non-perishable, they are excellent candidates for donation.
Shop Local
While shopping at a store doesn’t sound like a way to volunteer, it can be. By shopping from local small businesses and vendors, buyers are using their resources to give support where it matters. Similarly, consider shopping at locally owned grocery stores and farmers’ markets to make sure every dollar goes to help businesses that really need it.
Join a Group or Class
Believe it or not, attending classes is a good way to meet like-minded volunteer-oriented people while learning a new activity and spending money to support a local organization. By signing up to join an organization or class, individuals looking to spend their time positively will get to explore a new hobby and do something they love.
Regardless of where one may be in life, there is always an opportunity available to volunteer or offer resources to those in need. Get inspired by these five ideas to find ways to donate more time and money to the community.
