Property Management from day one?

2 Replies

As a new investor the topic of property management comes up often during property evaluations.

This is one of those things that will eventually happen once someone reaches a certain amount of properties (unless they want to self-manage 10+ units), but that doesn’t appeal to me.

My debate I am having with myself is should I consider managing my first property or two so I can gain the experience (Been there done that, got the t-shirt kind of deal) or should I put my faith into a management company from day one, freeing my time up for other opportunities?

This isn’t necessary a money issue, as I am fully aware of the benefits a good management company can offer, but its more so the experience side of things.

If I get a great deal and manage it myself for <1 year and hire a company after would that be a reasonable option, or should I just consider it an experience not worth taking?

I would like to hear about other experiences and opinions.

Thanks! 

@Alexander Wardell Depends on how close the properties are to you and how convenient. If your house hacking it's a no brainer but I personal think self managing is giving yourself a job.. I have rentals set up where I do not have a PM but I have a tenant take care of a few responsibilities and pay them a reduced rent..

@Hai Loc The area I am looking at is roughly an hour but depending on the time of year it can be as much as two hours. I will not be house hacking either. Yes you are correct in that I do not want to create another job for myself.  I am just the type of person who will have this itch until I finally do it (self management) no matter how brief it may be.   

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