Self Managing My last 30-Units

[Shawn Ackerman]

After a decade of investing in the Milwaukee market from New York, I have officially liquidated my portfolio, scaling down from 88 units to 4. While the majority were sold, 15 were lost to foreclosure—a difficult but valuable lesson in this business.

My journey with out-of-state investing taught me a great deal about the trade-offs of self-management. While I saved on management fees, the time investment was significant. My remote team consisted of myself, a virtual assistant, and a network of independent contractors for repairs and on-site support. I transitioned to self-management after realizing my previous property management company was consistently overcharging me for turnovers and renovations.

Looking back, I would do it again, but I would exclusively target rent-to-own or commercial tenants. For those currently investing or considering it, here are my key takeaways:

1. Systems are everything: Documenting processes is the only way to make your operations truly replicable and efficient.

2. Delegate wisely: Hiring specialized contractors for specific tasks reduces overlap and streamlines operations.

3. Own your data: Always control the software platform used for tenant communication and documentation. If you part ways with a management company, you don’t want them holding your records hostage.

Milwaukee remains a market with excellent growth potential if the right strategy is applied. I’m closing this chapter, but I’m happy to answer any questions you have about my experience or the process of scaling down or investing Out of state.

[Alfath Ahmed]

Quote from @Shawn Ackerman:

After a decade of investing in the Milwaukee market from New York, I have officially liquidated my portfolio, scaling down from 88 units to 4. While the majority were sold, 15 were lost to foreclosure—a difficult but valuable lesson in this business.

My journey with out-of-state investing taught me a great deal about the trade-offs of self-management. While I saved on management fees, the time investment was significant. My remote team consisted of myself, a virtual assistant, and a network of independent contractors for repairs and on-site support. I transitioned to self-management after realizing my previous property management company was consistently overcharging me for turnovers and renovations.

Looking back, I would do it again, but I would exclusively target rent-to-own or commercial tenants. For those currently investing or considering it, here are my key takeaways:

1. Systems are everything: Documenting processes is the only way to make your operations truly replicable and efficient.

2. Delegate wisely: Hiring specialized contractors for specific tasks reduces overlap and streamlines operations.

3. Own your data: Always control the software platform used for tenant communication and documentation. If you part ways with a management company, you don’t want them holding your records hostage.

Milwaukee remains a market with excellent growth potential if the right strategy is applied. I’m closing this chapter, but I’m happy to answer any questions you have about my experience or the process of scaling down or investing Out of state.

 Super valuable lessons! I'm managing my own portfolio in columbus and have been building systems to make it more efficient and systematic. Would love to connect.