Time commitment for rehabing or landlording

[Andrew M.]

I know these are essentially two different question but I figured this was better than two separate threads.

I was wondering how much time is necessary to devote to REI and how you manage your time between investing and another job or other commitments.

So what is the time requirement for trying to run positive cash flow rental property. If you are hiring a PM is this time commitment extremely minimal or are you still going to be putting alot of time into your property.

Again for rehabbing. Would you even be able to hold a full time job and rehab on the side. Is rehabbing essentially a full time or is it the sort of thing you could manage on your nights and weekends?

Any help would be appreciated!

[Douglas Christian]

I am full time and to get to that point it took many hrs, but used wisely. You must set your business up to be run as a business. Meaning all the paperwork, LLC, business cards, postcards, member of your local REIA, signs and then you can go out and start looking for homes in the neighborhoods that you would want to purchase and become a landlord. Now if you are looking in areas where you would want to live and not rent then you do not plan on making money. Also, be ready mentally and physically to become a landlord. I always suggest going to the courthouse and spending a day sitting there so that you can understand the process of evictions and here the various arguments. Once everything is in place and you feel comfortable with it then you duplicate the process and tweek as you go. Not hard, but not easy, but worth every moment.