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Value Trap
Becoming Self Employed and the Road Ahead
The pathway that leads to self employment can have its ups and it can also have its downs. There tends to be times you love your “job” and other times you detest it. Using the term ‘job’ lightly, by no stretch of the imagination is it just a job, and it can not exactly be called a career path either, You can be confident in calling it a lifestyle or even a way of life. The thing that you will welcome about being in the ‘self employed’ bracket are the ups, downs, sideways and topsy turvy twists that come with it. So, let us have a look at some of these twists in the road, the ups and downs of the roller coaster ride.As soon as you go self employed there will be immediate changes that you will need to purposely adjust to, and quite quickly as well. You will notice that you will not have a manager or a peer to look at what your output is every day. Fantastic you are thinking, BUT this can be good and it can just as well be bad.Keeping Yourself On The TracksYou will now be solely responsible to keep yourself on track and productive. When riding on a roller coaster, there is always a set of rules. Obeying them will ensure your safety and well being. Disobeying will result in harm to your self or being kicked out of the park. Abiding by the rules, in this case, setting your goals out, planning properly, controlling things and being productive, will mean that you will have a fair chance of being successful. If you are unprofessional about it all and do not follow the rules you will put everything in jeopardy when you do not have to. So – think you can take all the bumps and bruises that the self employment roller coaster has to offer then? The only person that can keep you on the track is yourself.The Good Times Are GoodThe benefits to be had though are worth having. You future is in your own safe hands and no ones other than your own. You own the company, nobody else and every single amount of revenue you generate is for you. If you show some financial understanding and monetary management you can obtain early financial freedom. No more worrying about requesting off days, calling off sick, or whether you have a job or not by the end of the week. When your friends are concerned about their jobs and talking about it all the time you can lounge back and feel good about the fact that you are self employed.A Positive Attitude Does Go A Long WayWhen you get on the roller coaster at the fun fair you can be 100% certain about one thing. You may be roughed up a bit from the ups, downs, twists, and turns, but you will love the ride none the less. You must adopt this same attitude when you decide to go self employed. With out it you might as well keep the job that you are currently working at and save yourself the wasted time and effort. Are you going to let someone else lay down the tracks to your roller coaster or are you going to do it yourself?
Hiring a Property Management Company – Pros and Cons
Owning rental property can be a lot of fun, but it can also be a lot of work. While many landlords have really amazing experiences, there are just as many who do not. By hiring a property management company, you can take the worries and time-consuming tasks that come with managing a rental property and pass them along to a professional. Before you make a move towards hiring a professional rental management company, take stock of your property and decide whether or not the costs will be worthwhile.The Pros of Hiring a Property Management CompanyThey Can Find Tenants for You
A professional management company can handle the marketing for you and your property, placing ads and screening calls from prospective tenants. When someone responds that fits the qualifications you have given the property management service, the company will call you!They Can Act as Your Liaison
Good customer relations are essential, and if you have a large business you may not have time to keep a relationship going with every new tenant. If you hire a rental management company, they can help step in and fill this role for you. Professional property management companies can also field complaints and requests for repairs or maintenance instead of leaving all of this up to you.They Can Handle the Finances
If dealing with the financial aspects of being a landlord doesn’t appeal to you, or you simply think it would be better to have someone else handle this part of your business, a property management company might be a great fit for you. Professional property managers collect rent, deposits, and any late charges that might occur. No more having to remind tenants of a late payment!They Know the Local Laws
Because there are specific laws that deal with rental properties, hiring a property management service can be your ticket to greater understanding of these laws for your own benefit. Having a professional in your corner can be enormously helpful and also help you avoid any potential legal blunders while managing your rental property.They Are Well Connected
Any professional rental manager worth mentioning is likely to have connections with other professionals and groups in your area. When you need to hire someone for a repair, upgrade, or replacement your manager will be able to recommend someone they know or have worked with before, helping you get the job done right the first time.The Cons of Hiring a Property Management CompanyThey Cost Money
Really the only con of using a professional rental management company is the cost. Many landlords will avoid signing on with such companies because they are worried that doing so will affect their profit margin a little more than they would like.There are many advantages to hiring a property management company; peace of mind and the knowledge that they will call you if something truly important occurs are all valuable things that a business owner can definitely appreciate!