Real Estate WEALTH Magazine Real Estate WEALTH Magazine - DOWNLOAD IT HERE! - Page 116

What Investors Should be Demanding, pg. 92 Armando Montelongo, pg. 115 requirements also streamlines the leasing process and keeps the pipeline clear of those who won’t qualify. over television. Besides, I always knew television would still want me. 4. FAST TENANT APPROVAL Slow operating property management companies and HOAs that drag their feet on approvals are a major detri- ment to the real estate market today. They hurt all parties involved, including neighboring unit owners. Q: There are a lot house flipping house shows and training companies that have imitated you. Why do you keep growing in the marketplace? A: I think it’s because the focus is on our students to give them a real product. We really do house flipping. I did it before the recession, I did it during the reces- sion and I still do it today. We have the pulse of the market. We know what’s happening in the market before it happens. 5. TRACK RECORD Just as with looking at renters’ track records, property owners should be looking at manager’s track records to predict future performance. Many, many people are try- ing to jump into the PM game to capitalize on the current surge in rental property ownership. Watch who you pick. 6. ONLINE PAYMENTS Renters must be able to pay online today. Failing to have this capability is just asking for performance issues. 7. REGULAR PROPERTY INSPECTIONS Pam Blanco says, “It is surprising how much damage a bad tenant can do to an asset in a short period of time.” Sometimes you just never know, despite how great a prospect appears on paper. Thorough managers will schedule regular property inspections and document them to preserve assets. 8. ONLINE MANAGEMENT TRACKING Investors should also expect transparent and up to date details on their property to be accessible online, all the time. This may be proprietary software, or using prop- erty management tech tools like PropertyWare or Rent Manager. v ~Article by Tim Houghten Q: So is the saying true... that when you’re the leader, everybody wants to bring you down? A: Yeah, there’s a level of truth to that. It also makes you tougher, and if you get past those challenges, then you and your network go to a whole different level. That’s what’s happening with our students right now; they are seeing more success than ever. ABOUT PAMS Pam Blanco is the founder and owner/ broker of PAMS (Property Asset Management & Sales). She has been in real estate since 1991, and has built a robust team of industry experts to service single family, multi- family, and commercial real estate income properties in Texas. For a list of properties, which are ideal for turnkey cash-flowing investments in Texas, or to find out more about how PAMS can enhance the performance and prof- itability of your real estate assets, or help with evaluat- ing potential acquisitions, go online to: www.PamTexas. com or call 682.558.8900. Realty411Guide.com Q: Armando, we have to address this. You have a lawsuit where a number of people said your edu- cation didn’t work. How do respond to that? A: Well, their attorney got a lot of free publicity off of me, so I’m not going to expand too much on it. What I can say is that 35 of the plaintiffs were recently dis- missed from the lawsuit and another 30 were already dismissed, so it’s down to about 100. And of those, about half of them are either working for competitive companies are have opened companies to compete against me. Q: Your education company is growing, so why get back into tele