First Investment Property

[Lou Santiago]

I'll be starting my journey in purchasing investment properties around the 2nd Quarter of 2019. What are some common pitfalls to avoid when purchasing an investment property? Should I hire a property manager or manage it myself first?

[William Russell]

@Lou Santiago Hi Lou! I noticed your post, and saw a few people recommended hiring Property Management ASAP!

I think it would be very wise for you to find the right deal. If that deal is within an hour of you, and you have the time, I would recommend you manage it on your own! If you really don’t know how to market/screen, I would recommend you hire a Management Company.

I own a Property Management Company in Staunton, VA. It hurts me to tell you to try it yourself! But, if you want to get into rentals, and you are within an hour or so, give it a shot! If it is terrible, hire it out! But, at least you will know it is worth it! It's always good to know every step of the process that will make you money!

Bill