1)Measuring Success in Property Management (graded)
Discuss how success is measured in the property management industry. Also, create a list of specific steps that should be taken to operate a successful property management business. In your responses, analyze how the team built contributes to the success or failure of the business. Please explore and share your own experiences leading teams.
2)For this discussion, read the following quote.
“If employees are not up to date on all of the issues, the owners and/or managers can find themselves at considerable risk and are subjecting themselves to both legal proceedings and financial penalties.”
What are your thoughts on this quote? What training should be conducted for all employees and how would you, as the leader, ensure that all employees understand the rules and regulation for property management? Provide an outline of a training program you would use for new hires.
3? Regardless of your role in the real estate industry, there is the possibility of being sued for not following certain laws and regulations. For this discussion, focus on property management. Research the top tenant-landlord laws that you would need to be familiar with. After providing this list, provide suggestions for reducing the risk and making sure the rules are met.
4) In real estate, we know that it is all about location! Location risk plays one of the greatest concerns for financial risk in real estate and with property management. Based on the area that you live or work, describe the prime locations for real estate and provide your reasoning. What makes the location “prime real estate” and worth taking the risk in investing? Explain your thoughts.
5) To get started on this discussion, please review the following website. http://www.investopedia.com/articles/mortgages-real-estate/11/valuing-real-estate.asp
This article focused on the roadblocks to real estate valuation. Explain one of the areas identified in the article. Provide suggestions for overcoming this roadblock. In addition, explain when an investor should “walk away” from the deal. Explain your thoughts.
6) Technology has changed the way that real estate professionals, in any niche area, conduct business. Software enhancements have improved the tracking and record-keeping for real estate professionals. For this discussion, review the following site: http://www.capterra.com/real-estate-property-management-software/
After doing so, choose one of the software programs and conduct additional research. Provide the basic information of the software and explain why this should would be a good tool to utilize in the business of property management.
7) It is important to be involved with others in real estate and investing is no different. There are a variety of real estate investing clubs available. Please review the following website: http://revnyou.com/real-estate-investing-clubs/
After reviewing this site, research and post about two other clubs that could be added to the list. Contact these groups either through social media or a personal call and learn more about the group. Explain why investors should join these clubs.