I was thinking how would it be to own a rental that is in arms reach from where one resides. I've been told when you invest in properties you can not be attached to them for various reasons. Now if you do own in your vicinity, I would think that it would be hard to not be attached seeing all that goes on. Do you stay discreet to the tenants and neighbors that you are the owner and use a property management company to oversee, or do you make it known?
All 3 of my rentals are within a 10 minute or less drive from where I live. My tenants know how close I am and that I drive by and check on the property on a regular basis. YOU WANT to know what is going on, it's your money and your future. Don't bother with a PM, they will never look after your interests as much as they should.
my family and I lived minutes from our apartments. i would show the apt personally when i had a vacancy, and never hid the fact that i was a local owner. i did the lawn care and maintenance myself. i think that is the way to go.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.