by Lex Shan
Young professionals, tend to experience comfort during the early years of their careers. Often times, they jump into the assumption that they can ace anything that they put their hearts into. Many think that one career formula can translate to all types of work. While this may work, we cannot escape the fact that this mindset is equally risky.
In general, people believe that a real estate property is always a good investment. Agents and financial gurus have conditioned our minds that this is always the case. What they fail to explain, is the importance of the element of “time.” Time affects one’s capability to manage a real estate investment. If you lack spare time, chances are, you will fail on your business venture. If you pay close attention to your property, you will have a better chance of gaining from it. But, at what expense?
Here are the common signs that your real estate investment is turning into a burden rather than a positive life changer.
Career.
Not everyone is gifted with focus. Some find it hard to balance two or more investment properties especially if both fields are demanding. For instance, if you have a job and want to rent out your old condo because you think that you can earn bigger, think again.. Tenant screening is a part-time job in and of itself. If you have an abundance of free time, that’s great. However, if you don’t have an inflexible work schedule, you will find yourself missing out on a lot of tenant leads. Eventually, your employer will notice your underperformance because you are preoccupied with other tasks. If you don’t want this scenario to happen, then learn to leave the real estate tasks to experts.
Health.
In the beginning, having multiple projects and businesses can be fun. As you embark on this journey, tenants may start to bombard you with questions, which may eventually leave you feeling mentally exhausted. At that point, your health may be at stake. Work stressors coupled with your learning curve at your real estate investments are definitely exhausting. Good thing there are service providers that offer help in supervising a start-up real estate investment.
Family.
In the hopes of providing better lives for our families, people tend to find various ways to multiply their source of income. But when we do, quality time with our families will suffer because we shifted our focus on our business. If we do this occasionally, that’s understandable. But when this becomes a habit, it will not be healthy for your family life. Your spouse may feel undervalued, your children may miss you, and life at home may lose its wholesomeness.
Career, health, and family are all important factors in life. Consider alternative ways to leverage your real estate investment property before these are impacted by your decision.
If work-life balance is important to you and you do not want these aspects of your life impacted, worry no more. Go ahead and lease your properties to qualified tenants that pay well.
At The Cal Agents, we have dedicated staff to answer inquiries, manage scheduling, an automated system to remind tenants before appointments and professional showing agents to accommodate your potential tenant’s schedules. We do all of the groundwork for you so that you can have a worry-free experience.
No need to do get into the nitty-gritty of the time-consuming tenant-selection nitty-gritty. Call the Cal Agents today!
