Handyman to Manage Property Turnover
I am in contact with an older investor who has 6 units (two duplexes and 2 SFRs) within an hour radius of one another ranging from Clackamas to Troutdale to the east of Portland, Oregon. He is looking for a handyman or small general contractor to oversee repairs and maintenance when he turns a property over for a new tenant to rent. He does not want a property manager, just someone to perform/oversee repairs to his properties. Does anyone in this area know of a handyman or small general contractor that might fit this role?
I am a young real estate investor in the southwest Portland-metro area who has one property under his belt and am looking to grow my real estate portfolio. I live over an hour away from these properties, and am considering taking this on myself to gain some experience on managing the maintenance process, but am unsure if this might be a good option for me. It could also present an opportunity to buy the properties from this older investor in the future since his kids want nothing to do with them. Any thoughts on this are greatly appreciated, thank you!
Most Popular Reply
What's your time worth? I for one wouldn't want to drive an hour just to let a tenant in, or to fix a toilet, mow the lawn, etc. I guess it really depends on what he wants from you, and how often you would step foot on the property. At my management company here in CT, we generally stay within a 30 minute radius of our offices. Anything over that tends to really cut in our profit margins due to time on the road, fuel costs, and missed opportunities due to the value of our time. Every hour you drive is an hour you could be networking towards your next big deal!
I dream of having all our management units on the same street! LOL.