Tales from a Property Manager with Suzanne Wilson Wong, Real Property Management Genesis

In episode 25 of The Real Talk, Raquel Ramirez welcomes property manager Suzanne Wilson-Wong to discuss the ins and outs of property management. Suzanne shares her journey of becoming a property manager and how she helps rental owners maximize their investments while providing excellent service to tenants. They also discuss the launch of Suzanne's new video series, “Stories with Suze, The Property Manager”, which aims to educate and inspire others in the industry.

Tune in as they define property management and shed light on the important role property managers play.

TIMESTAMPS

[00:04:41] What a property manager does.

[00:06:14] Vacation Rentals and Profitability.

[00:10:48] Condo Associations and their Rules.

[00:13:13] Long-term Relationship with Owners and Tenants.

[00:16:54] Property Management and Rent Increases.

[00:20:51] Property Inheritance and Rental Increases.

[00:23:42] Property Taxes and Expenses.

[00:27:00] Differences in Real Estate Specialties.

[00:32:55] Real Estate Investment Gone Wrong.

[00:36:47] Investing in Rental Properties.

[00:39:40] Real Estate Pitfalls and Mistakes.

[00:45:16] Teaching and Sharing Property Management.

In this episode, Raquel Ramirez and Suzanne Wilson-Wong emphasize the importance of building relationships in the real estate industry. Suzanne even highlights the significance of establishing long-term connections with both owners and tenants. Unlike other real estate transactions, property managers maintain constant communication with both parties on a monthly, weekly, or daily basis. This ongoing relationship underscores the understanding that real estate ultimately revolves around people.

Furthermore, the episode emphasizes several key factors for rental property owners, including the need for an exit strategy, insurance coverage, accountable service providers, and knowledge of legal obligations as a landlord.

QUOTES

• “The property manager should provide a full-service solution, which will allow the owner investor to truly relax and enjoy the fruits of their investment. Because if you invest in if you get an investment property, it's supposed to be passive income, right? It means that you should not have to be on top of it.” - Suzanne Wilson-Wong
• "A good property manager will help you minimize costs and then maximize the return on your investment." - Suzanne Wilson-Wong
• "Mistakes will be made even with the best of intentions. So that's why it's so important to hire professionals who are well-versed in these types of transactions, these types of situations so that you can avert some of those pitfalls, avoid some of those issues that you may just casually step in, thinking that you're doing the right thing." - Raquel Ramirez
• "Nobody ever learns a better lesson than when they're actually living through it." - Raquel Ramirez

SOCIAL MEDIA LINKS

Raquel Ramirez

Instagram: https://www.instagram.com/featured_properties_intl/

Facebook: https://www.facebook.com/featuredre

LinkedIn: https://www.linkedin.com/in/raquel-ramirez/

Suzanne Wilson-Wong

Instagram: https://www.instagram.com/suzethepropertymanager/

Facebook: https://www.facebook.com/RPMgenesis/

LinkedIn: https://www.linkedin.com/in/suzannewilsonwong/

WEBSITES:

The Real Talk: https://www.therealtalkpodcast.net/

Featured Properties International: https://msha.ke/featuredre

Real Property Management Genesis: https://www.rpmgenesis.com/

Email: info@rpmgenesis.com

Contact No.: 786-744-5700