Self Manage Long Term or Hiring Out Short Term

[Tom Grieshammer]

I’m 26 and have saved up 120,000 working as a full time teacher and swim coach, so I don’t have a ton of time. I’d like to leverage my savings to be able to retire early. For my first investment property, I’m looking at duplexes in the Cleveland heights and Lakewood areas and am wondering if I would get the best profit to effort ratio from self managing a long term rental or hiring a property manager and using it as a short term rental. Hiring out would decimate my cash flow on a long term rental and I don’t have the time to run a hospitality business. Any advice or considerations would be appreciated.

[James Wise]

Quote from @Tom Grieshammer:

I’m 26 and have saved up 120,000 working as a full time teacher and swim coach, so I don’t have a ton of time. I’d like to leverage my savings to be able to retire early. For my first investment property, I’m looking at duplexes in the Cleveland heights and Lakewood areas and am wondering if I would get the best profit to effort ratio from self managing a long term rental or hiring a property manager and using it as a short term rental. Hiring out would decimate my cash flow on a long term rental and I don’t have the time to run a hospitality business. Any advice or considerations would be appreciated.

 You're a teacher bro, you've got more time than anyone. Who else gets like 4 months of vacation every year? If you're willing to put in the work, you'll obviously make more money without hiring someone to do it for you.