Property Management vs Managing Ourselves

[Jenny Moore]

So, we have a property under contract in Birmingham, AL. I'm getting some push back from PM's in that area that they want a contract and money in an "account" to be able to get eyes on the property and give us a rehab budget. I want to get several bids for rehab- so I feel that signing up with one PM puts in an obligation to continue with them. Any thoughts on getting eyes on this property from several contractors without getting PM's involved- or do I just need to get a property manager that is willing to put a lock box on without signing a contract with us. Is there anyone in that area willing to do that?

Thanks for your help with this.

[Mike McCarthy]

Do you really want a PM managing the Reno? I’m sure there are some companies that are good at both renovation AND property management, but I’d assume most aren’t.

I’d rather find a good contractor to handle the Reno, then pass off to a good PM to manage the property, bring in tenants, etc.