Property Manager Hunting Tips

[Erick Daniel Alvarez]

Hello,

My friends and I are living in California and have decided to invest in Brownsville, Texas (mainly for cash flow). We are currently looking for deals in the market and are excited to dip our toes in the real estate market as first-time home buyers. One of our main concerns is finding some partner(s) or "boots on the ground" to manage the property for us since we will still be living in California. We'd like this investment to be mostly passive. Does anyone have any recommendations for finding a good property manager? Any general things (or red flags) we should look out for?  We're a little apprehensive given it's our first step as we've heard some bad stories. Any advice is very much appreciated. Thank you in advance.

- Erick

[Joe Norman]

Not related to your original question, but something else to consider is your partnership agreement, or if to get into a partnership at all. What happens if one of your "friends" is no longer a friend? What if one dies or becomes disabled? What if one wants out of the investment?

There are so many factors to consider when creating a partnership and in my experience its not worth it when investing in one-off properties.