Updated about 2 years ago on . Most recent reply
Self management from a Distance
Is it possible to manage a property from out of state without a PM. After interviewing a ton of Property Mgmt companies I noticed they will chew into my investment before I even begin with the amount of fees they carry. I'm not bashing the PMs out there who work diligently to provide the best services to investors but when you are a newbie it's hard to just hand over your new property and have the PM chewing at all the profits. If it's possible to manage from a far can someone give me a play by play as to how to go about it. Like
Who can I hire to show my property to potential tenants?
Who can I call to do a quarterly inspection to ensure the tenants haven't burn the house down and 50 people are not in a 2bedroom that's only suppose to be 3people.
I was told I can use doorloop for screening and various other aspects of managing my property
Who can I get to drive-by to make sure the property is in tact, snow cleaning, lawn care etc. Basically fulfilling the obligations of a PM but I would be calling and delegating and collecting my own rent. I will need this in Indianapolis Indiana. Constructive advice only please.
Most Popular Reply
What is it going to cost you to hire out all those different positions you asked about? Plus your work and head aches doing it. By the time you pay those people, you're probably just as better hiring a professional company. If you're worried about the costs, buy better next time. What i mean is factor in their % and fees into your return and get the house at a better deal so you can afford to have PM.