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Updated almost 5 years ago,
PM managing Contractor crew?
I am looking into buying my first rental property out of state. (First rental, period, also out of state). In order to maximize long term gains, I am looking at BRRRR. The properties I am looking at are in the 200-240 range. I have found a PM/agent who has been very helpful. He offers to manage Contractors for me for a 10% commission of the repair price.
How can I know I'm not getting screwed? Is it better to manage a Contractor crew yourself? I have read 'Long Distance Real Estate Investing' by David Greene. He talks about managing Contractors but it seems like there is a lot of room to loose money by doing it yourself. So is it worth to have my PM use his known contractors and let him take care of the details? Or am I in over my head starting out with a BRRRR? Should I try to start with a turnkey single family?
Just feeling a bit overwhelmed with it, any advice is greatly appreciated.