What a Property Management Company Can Do for an Institutional Investor

What a Property Management Company Can Do for an Institutional Investor

Institutional investors have the opportunity to do very well in a market like New Orleans, especially if they have the right help. If you’re working with a team that understands the value of income producing property and has the experience and the local market knowledge to help you succeed, there’s no telling what you can achieve. Today, we’re discussing some of the benefits of working with a local management company if you’re an institutional investor buying property in New Orleans and the Gulf South. Real Estate Investing: One Stop Shopping You don’t have time to shop around for all the different services and partners that you’ll need for successful real estate management. It’s better to work with a company that can handle everything for you. At Latter & Blum, we are experienced and knowledgeable in everything from the real estate market to construction and leasing. We handle everything in the investment cycle for you – from start to finish. This takes a lot of pressure off you, and allows us to operate more efficiently on your behalf. Understanding Net Operating Income Everyone understands ROI, but a great management company will help increase your NOI – or Net Operating Income. That’s an important number. Whether you are focused on residential real estate or commercial real estate, we know how to help you earn more. We’ll increase the value of your asset and drive up shareholder wealth. Better Service and Management of Rental Properties You need a team that can advise you on capital improvements, find and select the best tenants, and attract additional income to your portfolio. As a third...
Debbie Harvill Named NAI Global Property Management Council Chair

Debbie Harvill Named NAI Global Property Management Council Chair

Debbie Harvill, CPM© has been named the 2018 Property Management Council Chair for NAI Global, a leading global commercial real estate brokerage firm. Harvill is the Executive Vice President and Chief Operating Office of Latter & Bum Property Management, Inc., the largest third party property management firm in Louisiana and one of the largest in the southeast. “Debbie brings more than 35 years of experience in all aspects of property management that will greatly benefit our professionals,” said Jay Olshonsky, President, NAI Global. “We are delighted that Debbie will serve in this role to advance the organization’s efforts.” As Chief Operating Officer of Latter & Bum Property Management, Harvill oversees the management of over 18+ million square feet of commercial space representing a wide range of property types and sizes....
How to Grow Your Real Estate Investment Portfolio in the Gulf South

How to Grow Your Real Estate Investment Portfolio in the Gulf South

New Orleans is generally a difficult market, especially if you’re a new investor or an investor from out of town. It can be hard to gain traction in this constantly changing market, and if you want to earn more on your portfolio of residential real estate, there are a few things you need to do. Today, we’re sharing some real estate investing tips that can help you grow your business and your portfolio. Explore Other Areas Rental properties abound in New Orleans, but the Gulf South includes a lot of communities that you may be overlooking. Consider other areas, and put together a diversified portfolio of different types of homes in different neighborhoods and towns. New Orleans itself is a different animal. You can have a lot of success in New Orleans, but there is a lot to the Gulf South that provides great opportunities for investors and landlords. Be willing to think outside the box. Work with Professionals Make sure you’re working with a local and experienced property management company. You need to provide professional services and outstanding properties. If you want to know how to make money in property management, the secret is pretty simple: hire a good professional company. Professional managers know the market. We can be your boots on the ground, which is critical to developing and maintaining a successful real estate portfolio in the Gulf South. Understand Trends Your long term investment strategy depends on knowing the market and the services you need to provide in order to be competitive. Each area of the Gulf South is different. If you’re not working with a...
Expert Advice on How to Earn High ROI in a Mature Real Estate Market

Expert Advice on How to Earn High ROI in a Mature Real Estate Market

In a mature market, most of the customers are having their needs met. Demand is a little lower and supply is a little higher. In the rental market, this can mean it takes longer for your property to rent, or you have to work a little harder to hang onto your good tenants. When there are plenty of rental properties to meet the needs of tenants, you can still earn a high ROI with your own investment home. Today, we’re sharing three specific ways to do that. How to Make Money in Property Management: Differentiate Your Property In a mature rental market, you need to make your property stand out. Some ways you can do that include providing inexpensive upgrades and improvements to the home that will get the attention of great tenants. You don’t have to renovate an entire kitchen, but installing new hardware will make the room look new. Replacing old appliances with energy efficient appliances will be a great selling point during showings. Demonstrate that you’re willing to allow pets, and provide things like lawn care or pool maintenance if those services apply to your property. You can earn more when you have something special to offer. How to Make Money in Property Management: Retain Great Tenants Once you have an outstanding tenant in place, work hard to keep that tenant. Turnover costs are high, and in addition to the cleaning and the new paint and the new carpet, you’ll have to endure several weeks of vacancy while you’re looking for a new tenant. Avoid those costs and earn more money by keeping your good tenants...
How Real Estate Investors in New Orleans Can Gain Leverage With Lenders

How Real Estate Investors in New Orleans Can Gain Leverage With Lenders

If you are interested in real estate investing, but you’re a bit intimidated by the process of obtaining a loan, don’t worry. At Latter & Blum Property Management, we work with investors and lenders all the time to make sure the process of financing your investment is as smooth as possible. The goal is to gain leverage with lenders, so you can position yourself as a strong borrower and someone they’d like to work with. Financing Rental Properties in Gulf South We make sure you maximize your strengths during the investing process, and we can put you in touch with lenders who are likely to help you obtain the financing you need. We can also introduce you to some of the programs available through the Louisiana Housing Corporation, and talk about the tax credits that are available when you buy an investment property. Choosing a Lender Generally, investors can gain leverage with lenders by having a sizeable down payment for the property they want to buy. In the past, it was easy to make a purchase with very little down, and you can still do that today if you’re buying a home that you plan to occupy. However, as an investor, you need at least 20 to 30 percent to put down, and the larger your down payment, the more likely you will be to attract the attention of banks. You also must demonstrate that you have the financial stability to pay your loan. You’ll need to choose a property that will earn a consistent rental income. We can help you locate those opportunities and present them to your...
Why Louisiana Real Estate Investors Work with Latter & Blum Property Management

Why Louisiana Real Estate Investors Work with Latter & Blum Property Management

When real estate investors in New Orleans and Gulf South are looking for professional property management, many of them turn to Latter & Blum. There is a long list of reasons to work with us, and today we’re concentrating on three of the things that set us apart from other management companies in the area. Focus on Net Operating Income (NOI) You’ve probably heard of ROI, or Return on Investment. We think that’s important. However, Net Operating Income, or NOI, is just as important. When your NOI increases, the value of your investment increases. Our approach to property management ensures that your wealth increases, your expenses stay minimal, and your overall experience is a positive and profitable one. We understand the value of income property, and we expertly manage the entire lifecycle of your investment. Our proactive attention to your investment goals will help you earn more and increase the value of your asset. Talented Team and Local Experience At Latter & Blum, we are one of the largest third party management companies in Gulf South. We have more certified property managers on staff than any other company in the region. We are locally based, which means we understand the market and stay ahead of the changes. We are a one-stop shop for all of your real estate and property management needs. We manage each property professionally, and as a third party management firm, we are never in competition with our clients. Our entire staff has an excellent reputation in the community, and we establish relationships that serve your property better. This is especially beneficial when you need maintenance....