Starting a real estate investment and development firm can be a rewarding experience. The goal should be to improve the properties acquired and turn profits for your company and investors. It is essential to build lasting relationships with others in the real estate industry so they can help bring in the best services and ideas for your investment projects. It’s important to maintain honesty and integrity when working on development projects, as you want what is best for all parties involved.
Honesty and integrity are the foundations for building long-lasting and trustworthy relationships. It is helpful to carefully calculate your investments and do as much research on the local community as possible in order establish the potential of your investment project. Part of this process is spending time with the tenants of the properties you will acquire.
Establishing those relationships will help you gain insight on how best to improve these properties. Residents would like to know where you are coming from and what your intentions are. It is important to take care and maintain the property for the tenants so they will want to stay and occupy your investment property.
In 1992, Stanley Xu founded The Longwell Company. The Longwell Company was a real estate development firm that would acquire older apartment complexes and upgrade them. The Longwell Company now owns over 2,200 apartment units in the Seattle area where the company is based. Stanley Xu and his team are always looking for their next apartment building project so they can improve the community for the sake of their residents and their investors.
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