New member about to be a long distance landlord
Hello BiggerPockets community,
I was referred to this community by a local real estate investor in Colorado. I am moving in about 6 months from Colorado Springs to New York for work purposes. I currently own a property in Colorado Springs and I am planning to rent it out as we depart the area. Currently, I am in the phase where I am doing minor fixes to the property and plan to begin looking into property managers. I am still unsure if I truly want to hire a property manager, or if its something I can do myself. I am mostly looking for some advice and lessons learned from others on how leaving their residence and becoming a landlord from across the country went.
Thanks everyone,
Anthony
Most Popular Reply
@Michael Smythe
Let go of it (the house) emotionally. Tenants will never treat it like you do. Remember they are tenants for a reason. After that, consider the advise given above carefully. I would say an agent who is a property manager should always say hire a property manager or they should not be in the business. A good property managers saves you their fees. An average property manager will cost you more than their fee but you should be able to make money with them. A bad property manager is worse than a bad tenant because you will likely end up with a bad tenant as well.