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Updated over 3 years ago on . Most recent reply

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Jose Antonio Flores
  • Investor
  • Miami, FL
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54
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What is the best way to manage a rental property? (DIY)

Jose Antonio Flores
  • Investor
  • Miami, FL
Posted

Hello, all!

What is the best way to manage/run the numbers on a rental property?

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Managing and running the numbers on a rental property are two wholly different things. To manage a rental property DIY I assume you mean doing fixes on your own, but that can be very dangerous because you don't want to spend multiple times for the same things and get those calls because it wasn't done correctly or to code. You need a handyman for on-call needs and for rent collection you can use several online portals. In terms of running numbers, if you aren't seeing the properties, running the numbers won't help you learn anything because the costs are just percentages that others use and on-site, it's a whole different story when you see what is there.

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