Understanding the Price and Costs of Your Bryan/College Station Investment Property

Today, we are discussing real estate investing and the difference between price and cost. When you buy something, are you buying it based on its price or its cost?

Real Estate Investing: Price versus Cost

Price is what you pay when you purchase something. Cost is the long term value amount you pay over the entire life of a product or a service.

Looking at it in this context implies that cost includes the amount of money involved in the production, marketing, and distribution of that product or service. It can also refer to the amount of money needed to maintain a cost or a service.

Both price and cost involve the element of money. But, the context is different. The difference between buying for cost and buying for price is subtle. But, it can have a tremendous effect on your rental property and the performance of your investments.

Professional Investment Property Management

Breaking down the difference between price and cost this way applies to professional property management services as well.

Do you want to hire a property manager based on price or cost?

Most landlords and investors pay attention to price. They will hire a property manager because of low fees and cheap services. But, hiring a management company based on low prices may set you up for a lifetime of high costs with your investment property. As professional property managers, we have learned a lot.

Our favorite saying always rings true, especially in this case. You can pick two of these things:

  • Price
  • Quality
  • Service

You cannot have all three.

If you have any questions about price versus cost or professional property management in general, please contact us at AssetHERO Property Management at any time. We’d be happy to help you.

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