When an experienced real estate investor decided to begin purchasing rental properties in the Wilmington, NC, area, he teamed up with Sweyer Property Management, as well as other reputable local professionals, to assist in growing his portfolio.
BACKGROUND
A long-time real estate investor who was not local to the Wilmington area began purchasing rental investment properties in Wilmington in 2015. His vision from the beginning was to build a large portfolio of properties in the area and he needed to find the right property management partner to oversee his investments as he travels often and prefers to be as hands-off as possible.
- He initially brought 5 properties to Sweyer’s management; that number has since increased to over 65 properties.
- He both buys and builds properties. For the properties he buys, he completely renovates the interiors.
- Along with Sweyer as his property management partner, he also works with a local real estate agent and has a local renovation team.
WHAT THE INVESTOR NEEDED IN A MANAGEMENT PARTNER
This investor was ultimately looking for a property management partner he could trust with all management aspects of his rental investments once purchasing and renovations were completed. Having found that in Sweyer, he felt comfortable continuing to bring additional properties to their management company.
- Upon teaming up with Sweyer, the investor was partnered with a designated property manager who became his sole point of contact for everything related to his properties. In their time working together, they have formed a close relationship built on a solid foundation of trust.
- When the investor initially began purchasing properties in the Wilmington area, he was a hands-on investment property owner. However, after his first year with Sweyer, the trusting relationship he formed with Sweyer Property Management and his property manager allowed him to rest assured that his properties were being well cared for which gave him the freedom to travel and tend to other business.
- The investor was particularly interested in having consistent processes setup for the management of his properties. He needed everything from accounting and maintenance to tenant screening and lease signing to be taken care of. Relieving him of the burden of handling the day-to-day needs of his properties proved to be beneficial to his overall lifestyle.
- His property manager works closely with his real estate agent and renovation teams so that his properties receive expert care from purchase date to renovations to being put on the rental market to being leased.
- If tenant or maintenance issues arise, the investor knows that his property manager will handle them appropriately and he feels comfortable approving any necessary expenses to remediate issues as he knows that he can have full faith in her recommendations.
FUTURE PROJECTIONS
The investor plans to continue purchasing investment properties in the Wilmington area for the foreseeable future and is currently planning on building several new properties. For his existing properties, he is signing five-year management agreements with Sweyer Property Management as opposed to the traditional one-year agreements. Sweyer Property Management’s proven processes, along with their ability to successfully work alongside his other teams of professionals, have created a formula for continued success for this investor. He is able to purchase a property and hand it off to his team, knowing that each step along the way will be expertly executed.
The positive relationship he’s formed with Sweyer Property Management and his property manager, alongside his willingness to sign five-year agreements, are a testament to the success of Sweyer’s proven processes as well as the benefits of having a designated property manager to care for all aspects of his rental investments.
Would you like to learn more about how to grow your investment portfolio? Reach out to the experts at Sweyer Property Management for a free quote through our website or give us a call at 910.239.1338.