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Updated over 3 years ago, 07/11/2021
When is it beneficial to hire a property management company?
Currently, I own 3 rental properties that are completely occupied. I own a single-family home and a duplex. I guess my question is that now I'm in school full time and managing 3 properties on my own, which I don't know about. When I'm not doing school work, I'm consuming as much information as possible on managing rental properties and understanding every aspect of real estate overall. I've been extremely exhausted and fatigued recently because I'm only one brain consuming all this information, and it's been very stressful. None of my family understands my vision, and they're not willing to help at all. I don't think managing rental property is complicated, but I don't have much experience yet, and I don't want to do something that could cause me to go to court or potentially get sued due to my lack of knowledge. Really, I want to be out looking to buy more properties; I love running the numbers and determining if a property will cash flow or not. I don't enjoy the management side, though, while I'm in school. Although I also don't just have a ton of money to fork out to pay a company to manage my properties for me, I'm trying to increase income and decrease expenses. Any advice, fellow investors? Thanks so much.