There are many perspectives on 2021, some not so positive. But you haven’t asked Marie Pettie her opinion yet. Read on to hear Marie’s “A Year in Review”.
Challenges of 2021
When you talk with Marie Pettie, you realize that she is an eternal optimist who is always ready to take on the next challenge.
“2021 was a challenge here at Safe Harbor Property Management, but I think it was a challenge for everyone, everywhere in every industry! What made the year ultimately successful for Safe Harbor is we found new ways to help our clients.”
Marie Pettie is the regional property manager for Safe Harbor. She is the visionary behind the company as well as a driving force in the day-to-day management. She is both a property manager as well as a Licensed Real Estate Broker. Her influence extends into Tacoma, Lakewood, Olympia, Auburn, Puyallup, Federal Way, Lacey and other South Sound cities.
A Year in Review
“This year, we found ourselves walking quite a few clients through turning their properties. While most of our conversations revolve around maximizing the profitability of our client’s properties or finding new properties to purchase, we appreciate that selling a property is part of the property management life cycle. Having strategic discussions with families about their assets and hopes for the future is a real privilege. While this part of the business doesn’t get much attention, it is still a genuine benefit we offer.”
Looking forward to 2022, Marie talked about other exciting ventures.
“In 2021, we helped several clients exchange properties under the IRS tax code 1031. You may have heard people say, ‘Let’s 1031 that building.’ A 1031 Exchange is between two like-properties. If the properties meet the IRS standards, then there are no capital gains taxes due. This means our owners can continue to grow their portfolios on a tax-deferred basis! It can be complicated, but we would love to discuss this further if anyone reading this is interested.”
Rental Properties are Stable Investments
Safe Harbor acquired two new multi-family developments in 2021. The best part was these properties came from owner referrals. “We love it when a happy client refers us to some of their friends and colleagues.”
Surprisingly, there was no dip in the real estate business despite the pandemic. “People are still realizing that rental properties are stable investments that pay dividends for decades.”
But ultimately, for 2022, Marie hopes that new laws and restrictions due to the COVID pandemic will swing back to being beneficial for property owners. “Things are better than in 2020, but we are ready for an even better environment to be a rental property owner.”
Marie had a final word that again showed her eternal optimism. “The bottom line is the COVID crisis is EXACTLY why you need a partner like Safe Harbor Property Management. We are constantly working to find new, innovative ways to maximize our client’s profitability. COVID is no different. Nothing worth doing is easy. But when you have the right partners, you can be sure your decisions are sound and focused on the long term.”