Yo! Out of State Investors! Stop doing this. We are laughing at you.

[James Wise]

For those unaware, I do Property Management in Ohio. The majority of our clients are out of state investors. Usually from places like California.

For the last decade+, every single year, without fail, we get 1 or 2 rookie investors that turn down a unit turnover bid of like $5,000 because they want to do it themselves for like $3,000.

Thing is, they have to take time off of their job and fly in to Ohio from California to do the repairs which are always done incorrectly, and it always takes them 3x longer than us. When you add up the lost wages, travel, lodging, lost rent and the cost to pay us to fix what they did incorrectly, they turn their $3,000 job into a $20,000 job.

Literally every year for the last decade I've seen at least 1-2 guys do this. And we just watch them and laugh and laugh and laugh. 

[Chris Seveney]

Quote from @James Wise:

For those unaware, I do Property Management in Ohio. The majority of our clients are out of state investors. Usually from places like California.

For the last decade+, every single year, without fail, we get 1 or 2 rookie investors that turn down a unit turnover bid of like $5,000 because they want to do it themselves for like $3,000.

Thing is, they have to take time off of their job and fly in to Ohio from California to do the repairs which are always done incorrectly, and it always takes them 3x longer than us. When you add up the lost wages, travel, lodging, lost rent and the cost to pay us to fix what they did incorrectly, they turn their $3,000 job into a $20,000 job.

Literally every year for the last decade I've seen at least 1-2 guys do this. And we just watch them and laugh and laugh and laugh. 

 If I got a $5k quote from a guy who looks like a Crack Dealer Smurf I may consider doing it myself as well :) 

Now back to reality - the other thing people will do is try and find someone else and "whoa" found someone for $4k but three months later they are finished and they lost about $4k in lost rent. IF you are going to use a PM, vet them and understand you should be committing to them to MANAGE the entire process, not just find a tenant....