Are properly managers worth the expense?

[Donald Lanzer]

I'm considering using a property manager for my first RE investment. I understand there are different circumstances that can determine if this is a good decision or not but I was wanting to hear some of your opinions on property management. Thanks!

[Thomas S.]

You also must consider your understanding of the intricacies of managing a property yourself and whether you have the skills to manage a manager.

Do you know anything about property maintenance, are you at all experienced or handy with tools. do you understand the functions of the different buildings trades, do you know the costs associated with the trades.

If you have not been hands on involved in managing your own property it is extremely difficult to manage a property manager. How do you know if your are being taken advantage by a PM if you have no idea what it costs to repair a broken water pipe or rotten deck railing.

Investors that never take the time to hands on manage their first few properties are 100% at the mercy of a stranger.