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Updated over 5 years ago,
Property Manager act as your General Contractor too?
Hello BP,
Recently secured my first 2 rentals. SFR and Duplex. I'm out of state. Properties are in Indy.
I will need PM on both properties and each will need some fixing up to some degree. Not full gut rehab, but updated kitchen (layout/paint), a wall removal, interior paint, vinyl floors That kinda thing.
Some PM's I have talked to have a construction side and inform me they can complete necessary contractor work so long as I hire them to manage the property. Seems reasonable.
A few have in house contractors and others have said they would take bids from sub contractors depending on what needs to be done. Everyone says they can do pretty much anything rehab related.
Anyone have experience having their PM do/manage/complete the rehab of a buy-and-hold property? Pros-cons?
Seems like a favorable situation, as a PM company could get discounts and would not want do a lax job on the property, since they will be managing it in the first place....and then the PM will be set up already.
I'm doing OK managing subs on the SFR thus far but much rather talk to one GC or...PM in this case.
Thanks for any input.