How To Go About Ensuring Investors Of Your Property Progress
There are countless ways to get into the real estate business. One of which is to take your projects to investors and gain the funding you need. Whether you’re remodeling an old rundown property to make it live up to modern standards and contemporary design, or building a property from scratch, investment into your projects is crucial. If you have invested into a property that you hope to turn around of ‘flip’ but find out only later on down the road that there’s more work to be done fixing the problems, then you need will need a helping hand. These are the reasons for working with investors so that your own investments can be successful is a viable option. However you’re not also in charge of someone else’s money, so how do you reassure them that you know what you’re doing?
Appraise your property
Appraisals of properties can be done whenever. Appraisals of various kinds can be done to evaluate the structural integrity, the interior design with regards to decor, the logistical status, and the future adaptability to name a few. When you are achieving different stages of your renovation, remodeling or redesign, you can hire an appraiser to essentially rate and value the property in its current form. This can also show you if you’re on track with your own expectations. However, your investors also get an independent opinion on how well the project is going, thus any fears or doubts they may have can be squashed.
Modern exclusive access
Having investors give you their money means they trust you in two ways. They professionally believe in your plan or project, and they personally trust you to be true to your word with regards to meeting deadlines. However every now and then you’ll need to make sure their doubts are set aside. Look for modern technology which can give your investors exclusive access to the project to watch the progress from their very own homes. Look at the Kurt Svendheim Thailand project in Phuket where investors could view the progress of the development via a 24-hour stream for every day of the week. Pairing this live video feed, were weekly reports on the project. Not only could investors watch the actual construction of the property but they were never kept in the dark about the progress being made on the ground.
A guided tour
Seeing is believing and sometimes investors just want to see with their own eyes the project you’ve been in charge of. So don’t hesitate to say yes to any of your investors asking to be guided around the property during before, during and after development. Take some time out of your day to walk them through the outside and inside of the project. Give facts and figures along the way so they have your opinion backed up by what’s really going on.
Ensuring investors that they are in good hands is very important in any industry. The real estate industry is very expensive so projects need to be kept a close eye on at all stages of development. Set up a live feed for your investors to watch and keep them updated on your progress.