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Updated over 10 years ago on . Most recent reply

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Vonetta Booker
  • Investor
  • Stamford, CT
63
Votes |
247
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Frustrated w/ my PM search...

Vonetta Booker
  • Investor
  • Stamford, CT
Posted

In getting ready to purchase my first buy & hold, I've begun interviewing property managers...well, I've been trying to, anyway.  I researched about 7 local companies so far, called them & left messages a few days ago--and so far, only one has called back. (With that one, we played phone tag a couple of times...and then I didn't hear from him anymore, which was a little disappointing because I really liked their website & what they seemed to be about.)

In any case, I'm not seeing this as a good look for the PMs right off the bat.  I figure if they're not calling back now, how will they perform once I actually sign on with them?  Although I thought getting a PM would help relieve some of the stress of a buy/hold, I hear so many horror stories--so now, I'm not so sure.  If I'm going to be frustrated, I certainly don't want to pay extra for it, lol.

Should I just give up the PM search and consider/learn about managing on my own? (Perhaps have a handyman on call for repairs, but that's it...)

Most Popular Reply

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Bryan N.
  • Investor
  • Hampton Roads, VA
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Bryan N.
  • Investor
  • Hampton Roads, VA
Replied

@Vonetta Booker 

The PM search is more of a challenge than actually buying a property in my opinion.  Your right, if they aren't calling back for a new customer... It can only be worse once you sing an agreement.  My recommendation is get educated on doing your own landlording.  I found what I believe to be a good property manager in my area, but at the end of the day it's my money and I need to protect my investment so I'm going to do it myself.  There is a TON of information here to get educated.   Learn and manage yourself, then if you find a great property manager hand it off if you want to.  At that point, you will know what to expect from a property manager and when they are taking advantage you will know because you will have the experience yourself.  

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