By Anita Cooper
Investing out of state can be nerve-wracking, especially when you’re unfamiliar with the nuances of the markets you’re investing in. A property can look really good on paper, but does that automatically translate into a great buy?
Not necessarily.
That’s where due diligence comes into play. A knowledgeable broker can help you fi nd a good investment property, but that doesn’t always mean the broker can help you make the most of that investment.
The perfect option then, would be an investment savvy real estate broker who is also a highly effective property manager.
Pam Blanco, real estate broker and Owner of Professional Asset Management and Sales (PAMS), is that perfect option for investors who are interested in Texas properties.
She knows first-hand the frustration of finding a true partner who can help make the investing journey easier. When asked if she’d ever considered investing out of state or overseas, Pam shared a frustration that’s common among out of state investors: finding knowledgeable and professional industry contacts where they want to invest.
Anita: Have you ever considered investing out of state or overseas?
PAM: Not necessarily overseas, but out of state, yes. I struggle a little bit with management companies and REALTORS®. So for example, I find a good agent, but they don’t know a whole lot about property management, or I find a good property management company, but they can’t tell me what sells in a particular neighborhood, so it’s kind of frustrating.
Anita: What types of properties do you specialize in?
PAM:I do single family and multi-family. In fact, I would say, you know, I kind of grew up in the multi-family realm. I worked my way up through the ranks, so I understand multi-family very well.
In fact, we actually manage a smaller multi-family; it’s a specialty of ours, but we also do single family home. For first-time investors who are just getting into the business, and they’re looking for liquid properties, we help guide them through that. But I would say, more importantly, we just try to counsel them on good areas to be in. We help them find properties that are going to profit.
Anita: Please share with us how your program works and why it’s so unique?
PAM:We have a team of full-time researchers who do all of the research on potential investment properties, then put together ROI sheets for investors every week.
When an investor chooses a property they like, we actually draw the contracts for them, represent them in the sale, and then we do the rehabs for them as well.
So typically, when we put an ROI together, we’re budgeting the rehab, then performing the rehab for them, and then managing the investment afterwards.
We kind of have a vested interest in the property to perform as we specified in our ROI sheet, so it’s really important to make sure that we do that.
In addition, we also counsel investors on what type of investment they want. Some people want a long term hold, while others are just looking for their kids’ college education, so they may be looking at a five-year or a 10-year hold, so it just depends. We put together a plan for them and their portfolio based on what their actual goals are.
Anita: So what is your favorite part about the business?
PAM: “I’m going to say probably the deals and the people. So I guess to me — maybe, I am a deal junkie — but you know it’s the thrill of that chase, finding the best deal, getting properties that work for investors, and then managing them to make sure that it does work.”
Anita: Where would you say you see yourself and the biz in the next 5 to 10 years?
PAM:I would like to see the company in multiple states. I’d also like to see the number of investors that I work with pretty much triple and then open it up to multi-state.
As of this writing, PAMS manages more than 500 properties for its clients; a large proportion of them out of state investors. Individuals who are interested can reach Pam Blanco at 817-907-7347.
Anita Cooper is the founder of Northwoods Writer, a marketing resource for real estate professionals. She lives with her family in beautiful Wisconsin.
WHAT MAKES PAM DIFFERENT?
A true turn-key opportunity: Using knowledge and skills gained from many years working with both property management and investment companies, Pam Blanco has designed a “one-stop shop” for investors looking for profitable investing opportunities in Texas.
