Investing out of state - take a property management class?

6 Replies

Hi there,

My local community college is offering a property management course.  I am interested in long distance out-of-state investing.  I have heard horror stories about bad property managers and horrible tenants.  

Do you think it'd be worth it to take the course?  

Course Description:

The course illustrates how skilled management practice can assure the production of maximum financial yield to investment real estate. The students gain an overview of the many different types of properties in which they might become involved. The course considers the specific duties of management, including the establishing rental schedule, merchandising available space, collecting rent, creating and supervising maintenance schedules and repairs, supervising all purchasing, developing a tenant relationship policy, and maintaining proper accounting records. This course is an elective toward a Real Estate Broker's License.  

Learning more about a real estate never hurts. Worst comes to worst, you don't learn much from it, but it is a refresher to keep you up to date. In an ideal situation you learn something that will help you out in years to come. Not much to lose from attending. Typically if it is college sponsored it has some merit to it and won't be someone trying to sell you something. It will probably give you some insight on what to look for in a good property manager as well seeing as you will be needing to hire one if you are interested in investing out of state. 

Depends on the class and whether you intend to manage yourself or hire a PM.

Always good to learn, but it's much more important to learn how to manage a property manager than it is to be a property managaer.

It never hurts to learn.  If anything, it will help you learn what is involved with the rental process, and hopefully you'll be able to take away a few tidbits that you can refer back to later in your investment career.

@all, thanks for all the input!  I'll be registering for the class -- I'll post here on if it benefited me or not.  Happy new year.

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