Indianapolis, IN 路 Member since 2018 路 21 posts 路 6 votes
So I'm THIS close to finally closing a deal! Pretty excited to dive in and get going!
That being said, as I get closer I'm starting to think more about whether I should use a property management company or not.
Does anyone with some experience have any input on the things I could run into trying to manage it myself? I'm prepared to take phone calls and coordinate handymen, etc, but I'm just starting to wonder if the time I'd invest would be worth it.
Finally, if anyone has any good references for a property management company in the Cleveland Ohio area, I'd love to reach out to them and get prices/products.
I think the main value that you would find from a property manager (initially) is screening tenants. However, there are tons of free resources on BiggerPockets and online in general that would help you screen tenants.
Unless you truly have no interest in doing it yourself, I would strongly consider managing your first property yourself. It will probably be a good learning experience for you (even if all you learn is that you have no interest in managing your own properties), and it will help you save money that you can use to invest in your second property.
We have one property in the Cleveland area. Since we are not local we have All County NEO do the property management. They've had it for almost 2 years and the original tenant is still in place. They've handled a couple maintenance issues quickly and at what we felt were reasonable costs.