The real estate market is known for its highs and lows. While you cannot accurately predict the next low, you can take steps now to make surviving the next recession a little easier on you. These real estate marketing tips can help you keep turning the keys for years to come.
Cash Flow The real estate market is changing from the highs of 2016. Some properties are trading or renting below their highs and even for a negative return. Keep your cash flow up regardless of the economy. The next downturn can come at any time. A good cash flow helps you maintain those long term debts even in a crisis. Stay Alert Keep an eye on the market and don’t stop investing. Developing and maintaining good broker relationships can keep you active despite a dip in the economy. Brokers can keep you in the know on upcoming properties that make great investment opportunities. Those investments can make bank when the economy bounces back. Consistent Marketing Regularly reminding customers of your existence keeps them at the forefront of their minds regardless of the economy. People buy and sell houses in the bleakest of downturns and you want them to use your services. Postcards, mailers and newsletters keep your name in their minds when it’s time for them to make a change. Your name is your brand keep it going strong. Change Debt Change up your debt situation for any investment properties you own. Look at all the long-term debt options available. Move those in short-term and bridge debt into more secure options. Renovate neglected properties, so you can increase the rent today. Move any retail tenants to a long-term lease instead of month-to-month. Long-term is a better option than short-term rentals. Real estate marketing can keep you in the game even if others are barely making it by. Use these tips to keep you in the game regardless of the economy.
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AuthorHi, I'm Gary and I've been a successful real estate agent for 10 years. I want to share my secrets with others. Archives
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