Longwell Company - A Long-Term Ownership and Management Strategy
Longwell Company has built much, if not all, of their success upon a well-developed and long-term ownership and management strategy; one that consistently results in a successful long-term investment for the investor, but that also assures each tenant and resident at every one of their properties will enjoy the highest standards possible.
Longwell Company, officially founded in 1992, acquires, operates and manages properties for spans that last typically between 3-5 years, providing the firm the opportunity to make the renovations and improvements needed to transform what may have previously been a “C” grade property into an “A”. The results of the effort, and the care, Longwell professionals take in making viable and significant improvements to properties are clear to residents and investors alike: a superior-quality living environment with numerous benefits for all.
Longwell Company employs an investment strategy that includes the skilled and experienced management of proven property managers; professionals who take the opportunity to meet investor goals and objectives seriously, and who desire nothing more than to increase property value while improving quality of life. With over 20 years of experience in apartment complex investment and management, the Longwell team works towards turning property potential into reality, and to making a difference for both investors and for residents/tenants throughout the region.
The Longwell team follows an intensive, yet highly successful management philosophy, one that has led to the successful refinancing, improvement and sale of numerous properties over the past two decades. They promise to continue that trend well into the future.
Being Successful in Real Estate
Real estate is not an easy business and many people get into it and fail. There are some people who can easily deal with the ups and downs that naturally come with the housing market. There are even some people that are extremely successful at it. Stanley Xu, CEO of Longwell Company in Seattle is one of the lucky ones. His company has been turning around dilapidated houses and making them new again since 1992. He has been able to be extremely successful in real estate.
If you want to be just as successful in the game, then you should know a few tips before even starting a career in the field. It is very important that you return calls and emails in a timely manner. You must be able to get that house for a certain client if they want it, or pass along the big to someone else as soon as possible. Being on your game when it comes to communication is important because you need to be good at it to get the houses sold as fast as possible.
Another tip is to know the area where they are selling in. You should be able to pass along any important information about the neighborhood or the town where you are trying to sell a house in. People are going to want firsthand knowledge of what a certain place is like before they decide to move there. Being able to network is also an important skill for success. You need to build a solid foundation to start and continue your business.
Following these steps will give you an upper hand in the real estate business when you so choose to get into it. If you keep your mind open, you will be just as successful as some of the others who work in the industry as well. You will be someone that someone else wants to be like one day. And if you are really smart about it, you will have money to spend on your own house one day soon.
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There is a pretty common business that a lot of people fall into a first, and then they realize they are good at, and that is flipping houses. It is a trick of the real estate trade. People will buy a rundown house, or a house that is really cheap, and they will fix it up, and then sell it for a profit. It’s something that anyone could do if you had the experience with fixing up houses, and it’s something that Longwell Company does in Seattle all the time. They will take houses that are basically condemned and then renovate them to look almost new again. It’s not a bad job to get into, but you need to know some things before you consider doing it.
First off, you need to know just how to buy low. You do not want to buy a house that is actually far less in value or price than what someone is asking. You are going to put a lot of work into it, and that costs money on your end, so you need to be able to find houses that are low enough in price that you can then turn a profit on in the end. Usually, foreclosed or condemned houses come at a fairly cheap price so they are the best options.
It is also a plus for you if you happen to be a handy man or know a handy man personally because they will be able to help fix up the house on the cheap. You don’t want to spend extra money on contractors and other companies that will cost you more that what you should pay. If you have the knowledge yourself, you will save quite a bit of money in the long run. If you don’t know what to do, but you know someone who does, that is also just as good.
You should also at least have an idea of the neighborhood you are buying the house in because you will then need to sell it later. If you buy a house in a neighborhood that perhaps isn’t prospering, you will probably have a hard time selling it. But, on the other hand, if you know a certain neighbor is great, then you will have no problem selling a newly renovated house to a new family there.
Flipping houses is a business that can be lucrative if you know just what to do so you do not fall into any traps along the way. Be smart about what you are spending because you will need to make up that margin when you sell the house. If you put too much work into, you may not be able to make up that money when selling. It is better to think before you act, and if you have a business partner, that is always a great choice as well.