Newbie looking for Apartment Complex advice
20 years of age Texan. I have made roughly 20,000 dollars this year flipping houses. I have suffered a lot of profit loss from under estimating expenses. I am getting tired of flipping and am thinking about getting a small complex with maybe 12-20 units. The plan is to have a management company to manage the tenants and give me a list of repairs. I plan on replacing common things such as light bulbs to reduce expenses. However, with the tenants I feel I am out of my league. This is why I am thinking of getting a management company.
Thoughts? Comments? helpful advice?
Most Popular Reply
I would start small with a SFH, duplex, triplex, etc and MANAGE THE PROPERTY YOURSELF. Even if you eventually want to have a property manager, you need to know how to do it so that you understand what the management company is doing to/for you.
Good Luck,
Mike