Do you have aspirations of reaching seven-figure financial milestones or dreaming of substantial wealth accumulation? The journey to such heights might seem daunting, but real estate investment, particularly in rental properties, offers a direct path to realizing these ambitions. As the owner of a property management firm and real estate brokerage, I’ve have insights into how this avenue can significantly propel individuals towards their wealth objectives. Here’s a deeper dive into the key reasons why: Steady Monthly Cash Flow: Rental properties, when purchased correctly,  represent a dep ..read more

In the dynamic world of property management, a concerning trend has emerged— the pervasive practice of “fee maxing.” This phenomenon involves property managers seeking to maximize financial gains by imposing a plethora of fees on both tenants and property owners. However, at Smith Hearn, we are charting a different course—one that prioritizes value-driven practices, with a steadfast commitment to integrity and transparency in our approach to property management. Let’s be clear, we are all about a company making a profit, but some of these fees can get ridiculous! Fee Maxing in Property Managem ..read more

At Smith Hearn Property Management, we’ve engaged in countless discussions with property owners facing upcoming vacancies. It’s only natural for owners to want a new paying tenant in as quickly as possible to minimize lost rent. Yet, it’s crucial to remember that the best investment decisions are driven by long-term gains, not just immediate returns. With years of experience managing hundreds of units, we’ve suggested the six reasons why resisting the urge to advertise occupied units is a strategic move. By doing so, you’ll not only mitigate risks but also set the stage for maximizing rewards ..read more

Investing in rental properties can be a lucrative venture, providing a steady source of income and potential long-term growth. However, it’s not a one-size-fits-all strategy. There are certain characteristics that may indicate that rental property investment may not be for you. In this post, we’ll explore five key signs that suggest this might be the case. 1. Emotional Attachment to Property Damage: If you find it hard to detach emotionally when someone damages your property, rental property investment might not be the best choice for you. Damage is an inevitable part of the rental business, a ..read more

If you’re a property owner considering hiring a property manager in Baton Rouge, you may wonder how much property managers charge? While no set fee or commission rate applies to all property managers in Baton Rouge, certain factors can influence the cost of their services. Common Fee Structures Property management companies in Baton Rouge typically offer several fee structures, including: Percentage of Rent This is a typical fee structure where property managers charge a rate (usually 8% to 15%) of the monthly rent.  Yes, we did some secret shopping before setting our fees and we received ..read more

Real estate investing is a dynamic journey that can lead to tremendous wealth and financial security. However, this journey is not without its challenges. To thrive in the realm of real estate, one must adhere to a set of fundamental principles that serve as guiding beacons. Let’s unveil the three golden rules of real estate investing that can pave the way to success for astute investors. Rule #1: The Right Property is Paramount The cornerstone of real estate success lies in acquiring the right property. This can be achieved in one of two ways: by securing a property at a favorable price that ..read more

Hold onto your hats, because I have a real-life scenario of when selling a house FSBO vs hiring a real estate agent doesn’t exactly work out. Picture my wife and I, cruising through a familiar neighborhood, when bam! Right before us, a For Sale By Owner (FSBO) sign beckons. Quick as lightning, we set up a meeting with the owner, eager to lay eyes on this intriguing property. Our mission wasn’t just a casual stroll through the halls; oh no, we had bigger plans. We were on a mission to persuade the owner to list with our brokerage. Now, when that owner spilled the beans on the asking price, I ki ..read more

In the thrilling world of real estate investing, there’s an age-old question that has sparked endless debates and fueled countless investment strategies: Which holds more weight, monthly cash flow or the tantalizing promise of asset appreciation? It’s a dynamic duo that has left investors pondering, strategizing, and sometimes even wrestling with their decisions. Let’s dive into this exhilarating dilemma and shed some light on the pros and cons of each. The Battle Royale: Monthly Cash Flow Picture this: a steady stream of income flowing directly into your coffers every month. It’s like a finan ..read more

If you’re serious about stacking that wealth, you’ve got to consider the powerhouse that is rental property. Sure, you’ve got your stock market, investments, and the whole crypto craze, but don’t overlook this gem. Owning real estate isn’t just about a piece of land; it’s about setting yourself up for monumental long-term growth, a reliable income flow, and some sweet tax advantages. We’re talking about becoming a full-on landlord, and let me tell you, the benefits are staggering. Steady Income Imagine a stream of cash pouring into your pockets month after month. This isn’t just covering expen ..read more

Investing is all about having your assets work for you, even while you’re catching some z’s. Real estate, when navigated skillfully, epitomizes this dream. But here’s the kicker: merely acquiring a property or renting out your single-family home won’t guarantee a steady stream of income. Enter the game-changer: a trusted property manager. Their expertise can be a game-changer, though it’s not a one-size-fits-all solution. Let’s dissect the three major pros and cons of partnering with a property management company: Cons: 1. The Expense Dilemma Managing costs money, no two ways about it. Propert ..read more