All Forum Posts by: Han Zi
Han Zi has started 1 posts and replied 2 times.
Post: Should I hire a property manager
- Charleston, SC
- Posts 2
- Votes 0
Thanks everyone!
@Joshua D. @Thomas S. In the conservative case, I rent out the property for $1500 and try to manage it myself, and either hire an on-call handyman or a friend, I could cash flow about $300. Maybe $200 to be conservative. But after property tax, I am breaking even... If I hire a PM, I might go negative.
In the optimistic case, I can rent it out for $1700 (I think a reasonable number for my neighborhood), I could cash flow about $500. But after property tax, I will most likely cash flow $200. If I hire a PM, I might break even.
One reasons for me to rent it out is for the experience since I am still very new to real estate investing. Another reason is that my area is booming due to different industries moving in; housing/rent is raising.
Post: Should I hire a property manager
- Charleston, SC
- Posts 2
- Votes 0
Hello Bigger Pockets. Thank you in advance for providing such a great platform and community for real estate investing!
I am new to real estate investing. I currently live in a townhouse that I bought as a new construction about two years ago in South Carolina. I love it. However, I am about to be relocated to California for a job. I plan on turning this townhouse into a rental property. I find myself caught between two decisions: should I find a property manager to take care of everything for me or should I look for a tenant myself and have a buddy help fix up little things when needed.
I have talked to a friend who is a newbie landlord. He told me to find a tenant myself and have a buddy help me fix things up when needed. His property manager charges him 10% evey month and retain his first month's rent and charges him $85 every time they send someone to the property. This sounds like quite expensive...
What are your opinions?
Thank you!