Right I've owned one property in one city for about a year. Things are okay, although I find myself getting annoyed at my management company. I suspect this is because I am a small landlord and the company is focusing on its larger clients. Nothing major, but I feel like I'm not a priority. I constantly have to remind them to do things. The property is not 100% passive. Every month I have to review the payments, and this month I caught a payment issue where the management company thought I was paid but I was not.
There is another city that meets my investment criteria. I'm considering investing there for diversification purposes. Not only for the house, but also the management company.
But there is a reason to concentrate - if I get to be a bigger client, the management company might treat me better.
What if your one city was Baltimore yesterday?
What do you mean when you say city? Do you mean the next town over or a city 50-100 miles away? Or do you mean Atlanta and NYC? I'm buying a property a few towns away (very different demographics) that is only 30 min away from my current properties. I currently have two in the same development I like the closeness and convenience and I am invested in the well being of that neighborhood but it does come at a risk but there is reward. It is a personal decision in my opinion.
John Powell, Herk Home Services LLC | [email protected] | (850) 684‑2188
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