Getting over the micro manage mentality
Hey there everyone, got a interesting question to throw out here on the forum. First of all the question is: How does a current Landlord/Property manager/do everything maintenance guy, get over the thought of having to do it all himself, to be able to branch out to other areas of the country or state to grow his portfolio.
The reason for this question is this. I have been doing investing and managing properties for quite a while now, and feel stuck in branching out to other areas where I wouldn't be in direct control of the day to day operations, renting, fixing etc. I know how expensive repairs can be if you don't do them yourself, as well as knowing how property management companies frequently don't take care of the property as well as you would if you were there.
What has been your experience with having properties in other states or areas further away from where you live? My market is one that is small, but has a high demand for rental units, thus making finding a decent deal a rare find. I'm very comfortable renting units in my area and would like to have more, but the reality is this is a small fish tank with lots of sharks ready to pounce on whatever deal comes up.
Thoughts?