Updated about 2 years ago on . Most recent reply
People dislike rentals because they don't enjoy managing them!
As someone who has sold rental properties to investors for two decades, I've discovered that most people dislike rentals because they don't enjoy managing them. My advice to investors is simple: focus on educating yourself, improving your skills, and striving to become the best investor possible.
Don't waste valuable time managing your properties! Instead, focus on finding your next great deal. You're not aiming to become a property manager - you want to be an expert investor. Furthermore, by working with a property management firm, you can leverage their resources and grow your business more quickly.
But perhaps the most crucial reason to avoid managing your own properties is the potential for disaster. All it takes is one call on a weekend to ruin your day and make you regret your decision to invest in rentals. Don't let this happen to you, your spouse, or your family. Protect your future and retirement by enlisting the help of a skilled management team.
- Jorge Vazquez
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#3 General Landlording & Rental Properties Contributor
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#3 General Landlording & Rental Properties Contributor
Except you need a good PM and they are out there, but there are also a lot who aren't. It is also hard to find a place that will cash flow with PM fees, especially if they charge 1 month's rent to lease it (instead of a flat fee) and have high turnover. No one is going to care more about your property than you are. Many people are better off not buying rentals and investing their money elsewhere. Rentals are not a get rich quick scheme.