I close on my first SFH next week. The property came tenant occupied. There are two individuals renting rooms. I determined through a Google search that both tenants have violent criminal records so I would prefer to remain anonymous (they don't know my name, contact information, what I look like, etc.). Has anyone self managed a property while remaining anonymous? How? I realize this may be a scenario where a property manager is in my best interest but wanted to explore the possibilities first. Thanks.
How did you take ownership? If it is in your name? In most states it is public record and can be accessed on the tax site. Why did you buy this property with these type of tenants in place?
I have never anonymously managed but I have thought about it. Mike Butler's book talks about doing it. I would imagine you could do most of your correspondence by mail and email. Identify yourself as "the property manager" or "management". If you talk over the phone only give your first name? Not sure how to handle that one. You would have to hire contractors to inspect and go there on your behalf. They can take pictures so you don't have to be present. I imagine it wouldn't be much different than an out of state investor that never sees the property. It will just be harder because you will be doing the work yourself. All it will take is one contractor to over-bill you for something and you are going to want to see the problem for yourself. I vote PM if you are not comfortable dealing with tenants. That is literally what you pay them for.
Hi Peter, the public record comment is a good point. It will be in my name for the time being but am I correct that if I move it into an LLC then it wouldn't be tied to me in public records? This has been a consideration anyways to mitigate risk.
Long story short, the listing didn't include that there were tenants in place. The seller wouldn't provide the rental agreements until the purchase contract was in place. From my perspective, I ran the numbers and, even with a property manager, determined it would be profitable.
I'll have to check out Mike Butler's book - thank you for the recommendation.
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