Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
11y
My husband is active duty navy. We have 7 houses, 6 that are rental properties. I self manage all of them, even the 3 that are 3,000 miles away :)
We buy every house with the idea in mind that it will be self-managed. We buy houses that professionals will live in and have a lot of skin in the game to encourage them to live up to their expectations. I have a 16 page lease that goes into all of their expectations.
Let me know if I can help! We save over 17k a year by me self managing. I have written extensively on this subject. I even have an ebook coming out on this topic!
Rental Property Investor · Tomball, TX · Member since 2013 · 134 posts · 43 votes
10y
Good question. I just had turnover in a property for the first time since investing. I currently live in London and the house is in Abilene, TX so it was remote and challenging. The only way I was able to do it was with some boots on the ground from other people.
Leading up to the lease ending I published ads for the house through postlet's talked to potential tenants, along with my brother n law who lives in Texas and fielded some calls, and when I was happy lined up an appointment with the existing tenant for the applicant to view the property with a family member that is in town and had a key to the house. Luckily I was able to arrange viewings at similar times so in one visit 3 people would see the house making it easy for everyone. The applicants had no idea where I lived as I use a google voice number.
When we found a tenant my brother n law worked with them to obtain the application, learn more about them and get their background check run. He is not in Abilene but atleast in the right time zone so this was very helpful.
Leading up to the move out and move in I dealt with the existing tenant remotely on when they would be out and lining up a time to get keys. My brother n law worked with the new tenant lining up their move in date, cleaners, carpet cleaners and minor repairs performed by the family member that lives in Abilene.
The key was communication between all of us and having help in Abilene. In the end the new tenant was very eager to move in and we managed to have the old tenant start moving out a before the lease ended on Nov. 30 as it worked for their new house as well and they needed awhile to move. They had the house empty and just stuff in the garage which allowed us to clean and repair everything prior to Nov. 30.
On Nov. 30 the family member in Abilene collected keys from the old tenant and on Dec. 1 changed the locks and gave the new key to the new tenant leaving us with no down time and no pro-rated rent!
There's no way to do it without someone in town that has a key to help show the unit and let cleaners etc. in and out. If you have that. It's totally doable.