Property Management company vs. buying own properties

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Property Management company vs. buying own properties

Jennifer Calvert
Member since 2019 · 10 posts · 8 votes

We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

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Steven Foster Wilson
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
5y
Originally posted by @Jennifer Calvert:

We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

 When you go on vacation which will require the most attention. In 5 years which will be worth more? IMO owning real estate is the obvious choice for creating long term wealth. I started 3 years ago with $15,000 from my grandmother in Columbus OH, now I have thousands a month in cash flow and hundreds of thousands in equity, and I only have 2 properties.

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  • Andy EakesPro Member
    Property Manager · San Diego, CA · Member since 2020 · 205 posts · 162 votes
    5y

    @Jennifer Calvert I 100% believe that owning property is much better than having a property management company. You may work just as hard on your own property, but when you are ready to retire, the property will still be there to make you money. The long term income potential is too worth it in my opinion, especially if your husband wants to retire early. Once he retires, you may or may not want to be working so hard. And with your own property, you can hire property management and take a more hands off approach to earning money and growth should you decide that's what you want to do.

    1Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Jennifer Calvert:

    We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

     When you go on vacation which will require the most attention. In 5 years which will be worth more? IMO owning real estate is the obvious choice for creating long term wealth. I started 3 years ago with $15,000 from my grandmother in Columbus OH, now I have thousands a month in cash flow and hundreds of thousands in equity, and I only have 2 properties.

    3Reply
  • Connor Johnson
    Property Manager · Columbus Ohio · Member since 2015 · 11 posts · 8 votes
    5y

    I highly suggest owning your own rentals, property management is all of the problems and none of the benefits of owning property. From what your saying it make much more sense goal wise to invest in real estate. 

    2Reply
  • Jennifer Calvert
    OP
    Member since 2019 · 10 posts · 8 votes
    5y
    Originally posted by @Andy Eakes:

    @Jennifer Calvert I 100% believe that owning property is much better than having a property management company. You may work just as hard on your own property, but when you are ready to retire, the property will still be there to make you money. The long term income potential is too worth it in my opinion, especially if your husband wants to retire early. Once he retires, you may or may not want to be working so hard. And with your own property, you can hire property management and take a more hands off approach to earning money and growth should you decide that's what you want to do.

    Thank you so much for your feedback! I greatly appreciate it! 

    2Reply
  • Jennifer Calvert
    OP
    Member since 2019 · 10 posts · 8 votes
    5y
    Originally posted by @Steven Foster Wilson:
    Originally posted by @Jennifer Calvert:

    We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

     When you go on vacation which will require the most attention. In 5 years which will be worth more? IMO owning real estate is the obvious choice for creating long term wealth. I started 3 years ago with $15,000 from my grandmother in Columbus OH, now I have thousands a month in cash flow and hundreds of thousands in equity, and I only have 2 properties.

    Thank you! That’s a great way to put it into perspective! 

    1Reply
  • Jennifer Calvert
    OP
    Member since 2019 · 10 posts · 8 votes
    5y
    Originally posted by @Connor Johnson:

    I highly suggest owning your own rentals, property management is all of the problems and none of the benefits of owning property. From what your saying it make much more sense goal wise to invest in real estate. 

    Perfect! Thank you for the info!!! I sincerely appreciate it!  

    1Reply
  • Jennifer Calvert
    OP
    Member since 2019 · 10 posts · 8 votes
    5y
    Originally posted by @Andy Eakes:

    @Jennifer Calvert I 100% believe that owning property is much better than having a property management company. You may work just as hard on your own property, but when you are ready to retire, the property will still be there to make you money. The long term income potential is too worth it in my opinion, especially if your husband wants to retire early. Once he retires, you may or may not want to be working so hard. And with your own property, you can hire property management and take a more hands off approach to earning money and growth should you decide that's what you want to do.

    I do like the flexibility of having my own properties. With the management company it’s a 10 yr commitment with a non-compete for two years should you decide to get out. A lot of work and time to either be stuck or walk away with nothing.  thank you for your feedback. 

    2Reply
  • Zachary Ray
    Investor · Tampa, FL · Member since 2017 · 589 posts · 251 votes
    5y

    Starting a property management company can be extremely difficult. Investing in your own properties is the way to go.  Managing other properties can be a pain in the rear with low return. Owning the property will provide better returns long term. You are free to manage your own properties however managing others will require a license depending on where you live. 

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Jennifer Calvert:

    We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

     I would recommend deploying that capital in Columbus, Ohio

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    1Reply
  • Jennifer Calvert
    OP
    Member since 2019 · 10 posts · 8 votes
    5y
    Originally posted by @Remington Lyman:
    Originally posted by @Jennifer Calvert:

    We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

     I would recommend deploying that capital in Columbus, Ohio

    😁 As a newbie I’d like to keep it local (Texas) for now. If you want to connect me to someone you know here in the Dallas/Ft Worth Metroplex area I would appreciate it! 

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Jennifer Calvert:
    Originally posted by @Remington Lyman:
    Originally posted by @Jennifer Calvert:

    We have about $80k-$100k to invest in RE. My goal is to have our own properties (MF, RV park, STR) and start building generational wealth. We do not have to replace my income but my husband is looking to retire early. We have been speaking with a prop mgmt franchise company and based on my research and other franchise owners I've spoken with it's a slow grind. I am not opposed to hard work, but I prefer to work smarter not harder. My theory is I might as well use my own money to buy my own prop and manage it than run around like a crazy person trying to muscle up other people's property to manage. Thoughts and insight from people who have experience doing both would be so appreciated.

     I would recommend deploying that capital in Columbus, Ohio

    😁 As a newbie I’d like to keep it local (Texas) for now. If you want to connect me to someone you know here in the Dallas/Ft Worth Metroplex area I would appreciate it! 

     Unfortunately I do not have any connections there at this time!

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
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