Real estate investment is more than purchasing office buildings, raw land, strip malls, or multi-family homes. Sometimes, a piece of property is no longer performing entirely as you want, or you are ready to head in a new direction with your portfolio. While the reasons may vary, you want to get the best price when it is time to put your apartment buildings up for sale in Louisiana. There are several things you can do. Working with a commercial real estate broker is a great start.

3 Areas of Focus When Placing Apartment Buildings Up for Sale

Before placing the ‘For Sale’ sign out front, invest some time in these three areas:

1. Financials: Buyers want to know they will make money when they purchase an investment property. Owners should have a good handle on the financial aspect of their apartment building or complex all the time, especially long before the property is placed for sale. You will need to have at least 12 months of profit and loss statements to review for investors and their banks. Ideally, you will want to show an upward trend regarding rents and occupancy levels, while your expenses show a downward trajectory. An effective property management broker capable of efficiently running your rentals makes things much smoother.
2. Appearance: Curb appeal speaks volumes to potential buyers. This list seems never-ending as lawn care, landscaping, and repair work is always to be done. When the time approaches to sell your property, it pays to ramp up the upkeep. Consider these areas to let the best parts shine through:
   • Clean and organize boiler and utility rooms. These areas can be easily overlooked but can leave a building feeling dank and dark. Look to clean up signs of leaks, rust, or corrosion.
   • Watch and maintain the general cleanliness of common areas. Look at hallways, laundry rooms, and trash areas.
   • Upgrade or clean up the landscaping to add to the curb appeal and create a great first impression for buyers.
   • Consider adding new paint to areas where the paint is fading or chipping.
3. Marketing: Finding the best investors can be a little tricky. You can do a few things to make the process run smoother. First, work with some of your best tenants with whom you have an excellent relationship, to utilize their apartments for showings. Second, talk with your maintenance and management teams about expectations with keeping the property clean and well maintained. Finally, hire a qualified commercial real estate broker to represent you during the selling process.

Place Your Investment Properties for Sale with The Estes Group

Work with a company dedicated to your wealth-building goals. At The Estes Group, we take time to listen to you and center our efforts based on your needs. Not only can we handle the sale of your apartment buildings, but we also aid in acquisitions, leasing, 1031s, multi-family, property and asset management, and much more. Talk with us about all your commercial investment and apartment building selling and buying needs in Louisiana, Alabama, Mississippi, and Tennessee.

Call us at 601-362-9633 or contact us online to discuss your real estate goals with our knowledgeable and experienced commercial real estate brokers. We’ll help you find the best deal with apartment buildings for sale in Louisiana.

Real estate investing is an option used by many to expand their financial portfolios. Investors come with a varied array of wealth-building goals. Some choose to stick with retail strip malls. Others like to take bare ground, develop it, and then lease out the buildings. Residential investing is often the entry point with single-family homes followed by multi-family and apartment buildings. The amount of involvement also varies from one investor to the next.

At The Estes Group, we work with many investors to assist them in attaining their financial goals. We believe that a client-centric approach benefits our clients the most. We help you with finding apartment buildings for sale in Mississippi, Alabama Louisiana, and Tennessee that fit your goals. We also offer additional services like property and facility management, financial and accounting services, and advisory services.

5 Points to Remember about Apartment Building Management

If you choose to be a hands-on commercial property owner, then we encourage you to keep these five points in mind when searching apartment buildings:

1. You need to keep up on the housing laws and policies in the state and area. Regardless of whether you’re looking for apartment buildings for sale in Mississippi, Louisiana, Tennessee, or Alabama, each state has its own specific laws and regulations. You should be familiar with what is required of you as a property owner and manager, especially if you aren’t investing in your home state. Working with an established management company like The Estes Group can assist you with requirements.
2. You should have the proper insurance in place from the start. Owning rental and investment property of any kind comes with risks. You can mitigate those by setting up the correct amount and type of insurance. For example, you need coverage for tenant, employee, and visitor injuries, theft or vandalism, advertising liability, fire, storms, and other catastrophic events. You may also want to protect from loss of rental income, discrimination claims, and fraud allegations.
3. You need to keep up on maintenance to keep the property desirable. Your to-do list is never-ending when it comes to ground maintenance. Naturally, you will have the calls from your tenants. Then there’s the general upkeep like landscaping, painting, and cleaning emptied units. All of this ensures your apartment buildings remain desirable for new tenants. If the prospect of staying up on maintenance is not alluring, then hiring a management firm can ease this pressure.
4. You will want policies in place to find the best tenants. Getting the best return on your investment includes having the right tenants in place. Start by establishing procedures like screening, written leases, and security deposits. Ensure your new tenants know the dates their lease is good for, the cost of rent and when it is due, and procedures for placing repair requests.
5. It pays to have a property management company run things for you. Not everyone wants the task of watching over every aspect of maintaining an apartment building. Some investors want to remain hands-off. That is where a property and facility management company is an excellent investment. The Estes Group can handle all the day-to-day operations from tenant relations to property maintenance.

Find the Best Apartment Buildings for Sale – Work with The Estes Group

Build out your portfolio to fulfill your financial goals when you work with The Estes Group. Not only do we keep on top of what is happening in the real estate market, but we utilize sound management practices to give you the best opportunities for investment success. We are also one of the few Mississippi firms awarded the designation of Accredited Management Organization (AMO). While we are proud of the achievement, it is our clients that benefit the most. Contact us and learn more about our real estate investing services.

Call us at 601-362-9633 or contact us online to discuss your real estate goals with our knowledgeable and experienced commercial property investment brokers. We’ll help you purchase apartment buildings for sale in Mississippi, Alabama, Louisiana, and Tennessee that deliver the best return on investment.