How Often Do Things Really Go Wrong?
Hi Everyone,
Pardon what could be a wildly ignorant question, but I drove from Chicago to suburban Indiana last weekend to look at some duplexes, and I am doing the same this weekend--needless to say, I am incredibly eager and excited to close on my first investment property before turning 26 in six months (I'm currently house-hacking my primary residence in Chicago, if that counts).
Especially for out of state investors who don't have a big portfolio yet, is there ever buyer's remorse about having a property management company? Are there months that go by where there are zero maintenance call/issues/expenses, and you're just paying to have the PM company on retainer? Do people have luck with having a relationship with a local handyman who can just invoice you hourly/per job, or do unexpected maintenance calls really happen that frequently?
In my limited experience of being a renter, the only time I ever texted my landlord was during Chicago's 2014 polar vortex and my heating needed a swift kick in the pants. Other than that...it was pretty easy being a quiet tenant.
Thanks for reading,
- Derek