Property management job before REI

[Austin Cooke]

Would it be worth a pay cut to work to work for a property management company before I invest in my first rental property. Thus gaining the experience and knowledge of the field. This wouldn't be so I could manage ALL of my properties but to know the ins and outs so I can manage my property managers as well as manage a handful of my properties.

One side of me says to do it. The other says just make sure I work with a good property management company.

THANKS!

[Nathan Gesner]

Working for a professional property manager could educate you much faster than trying it on your own. You would gain access to their forms, policies and procedures, and much more. They probably have you sign an agreement that you won't take their property but you could certainly use their material as a model and build your own. You'll learn a lot in a short period of time.

On the other hand, it depends on what your current income is and what your ultimate goal is. Instead of working for $40,000 a year to learn how to manage, maybe you could hire a coach for $5,000 to provide you with all the forms and teach you how to be a manager.