Property Managment - When is it good to use them?

[Keoni Padilla]

I've heard a couple points of view on this topic and understandably a lot of factors depend on the investor and their style and how hands on or involved they want to be in the process.

However I did want to get more insight and opinions to see at what point does adding a property management team to your business make sense.

For example, is their a general number of houses/units at which you would then start looking for property managers? What are some things one should take into consideration when comparing whether managing the properties yourself or to delegate them to someone else?

Your insight and thoughts on this are greatly appreciated!

[Tom Shallcross]

Welcome to BP @Keoni Padilla.  A lot of variables go into this decision.

There is nothing wrong with self-management, but every hour you spend on management is another hour you don't spend growing the portfolio. You need to make the own call if you have enough hours in the day to juggle management while growing to the number of doors you've set out to own. 

If you are truly in scaling mode and really looking to build a portfolio, I would sync up with a reputable PM company sooner rather than later.  If your plan is to grow, you'll eventually need a third-party property management and have your property cash flow with their fee in there anyways, so it should hit acceptable numbers accounting for PM from day one regardless.