Real Estate Investors: Buying a Little Freedom

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If you ask people why they invest in real estate, one of the top answers you’ll get is freedom. Contrary to this driving force of wanting more freedom, many investors self-manage and end up instead limiting their own freedom.

Freedom Obstacles

In my article Building Your Real Estate Investment Team – Part 7: Selecting a Property Manager, I discussed some of the items a property manager would normally be responsible for:

  • Advertising
  • Showing the property
  • Interviewing tenants
  • Tenant screening (including credit and background checks)
  • Filling out leases
  • Collecting rent
  • Handling evictions and other tenant issues
  • Managing trades for repairs and maintenance
  • Coordinating lawn care and snow removal
  • Regular property visits

As a landlord, how many of these items take away your free time and limit your freedom? If you self-manage, the answer is probably most or all of these.

The Cost of Freedom

If like many other investors, you invest because you want to have more freedom, ask yourself what not having to deal with any of the hassles above is worth to you.

Without having to worry about any of these, would you sleep better at night? Would you be more relaxed on weekends or vacations. Would you simply have less stress?

Leave It To Your Property Manager

Once you put a price on your freedom you can compare that to what a good property manager would cost. Usually hiring a PM is the right move if you are one of the many investors who are looking for more freedom.

Remember that you make your money putting deals together, not as a property manager. Select a great property manager, supply them the tools to do a great job, and leave them to do what they do best while you enjoy some newly purchased freedom.

Creative Commons License Image: jordandelion

About Author

Andrew is a Canadian real estate investor and analyst who works with Joint Venture partners to create long-term wealth. With a focus on buying and holding positive cash flow properties in Canada's Technology Triangle, Andrew makes the benefits of real estate investment available to those who lack the time or expertise to buy and manage property themselves.


  1. I definitely agree with you Andrew and this should go for all types of businesses if you are an investor. Whether you have a real estate or you invest in a franchise, you should always hire professionals who is experienced in his field. It would be wise to ask for an expert opinion before you buy a real estate too.

  2. This is so true. When we decided to get into REI, Michelle and I both agreed we wanted freedom and have no issues spending some of our profits to make sure we get it. We are doing a flip, well, its done, now its on the market, but we hired out alot of it because we didn’t want to take more time, be stuck to the project, be stressed about timelines, and it was great. Bought it, basic fixes, repairs, and replacements, and back on the market in 30 days, without us being stressed out. We plan on doing even less on the next one, the painter we hired does everything needed to rehab a house, I didn’t know them before I had already hired a floor guy and trim guy. We are also entertaining rentals now because of exactly what you are saying in your article. We found a management company(local REI meeting) who does it all for 8% and they are the top in the area. Great article!

  3. I agree, you should leave the property management up to the professionals.

    My properties are all managed and I have never even contemplated doing it myself.

    I think some people would be suited to managing the property themselves, such as retirees who have the free time and possibly need the extra cash by doing it themselves. However, you would run into issues if you don’t live nearby the property because how are you going to inspect it on a regular basis?

    You can always negotiate to get a better deal with a property manager as well so that it costs you less.

  4. I agree with you Andrew. There is a big difference between handling your investment yourself and having a professional handle it. Hiring a professional relieves the pressure of getting everything done yourself and ensures that it would be handled correctly. What sane person can argue with this logic? Great article.

  5. That’s right, I agree with Jack and Darren. But, still doing all those things such as Interviewing tenants, collecting rent is way better than 9 to 5 job. For some people it is huge freedom to be able to invest in real estate.

    • Hi George, When you have a full time job it can be tough to find the time to manage properties on your own once you get a handful of them. Balancing work, family and real estate can be tough. On the other hand if you’re able to go full time in real estate, then maybe managing properties is a worthwhile use of your time. I think us investors make more money in putting deals together than managing properties so it is best to hire a PM.

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