Holding me back...
Hi BP Family,
Father keeps telling me investing outside of your area (out of state/city) and hiring a property management company is a ridiculously bad move for a newbie investor.
His reasoning being you must BE there to see how the property is doing all the time and that PM companies are trying to get the most amount of $ with the least amount of work....acting as if hiring a PM company is getting a 'free lunch' on your first property, and we all know the saying...
Although I do somewhat agree, there are lots of restrictions for me not being able to personally manage my property, so hiring a PM company is ideal, and I would like to think about how I can still get into the market!
Any suggestions on this topic? I know PM companies are not ideal for newbie investors but are there ways to stay on top of them to make sure you are getting the most for that 10%?