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Updated about 1 year ago, 09/20/2023

User Stats

9
Posts
18
Votes
Kat McLead
18
Votes |
9
Posts

How to Self Manage Out of State Property Question

Kat McLead
Posted

Hi Community,

I posted a success story of buying an apartment, duplex, and quad after years of reading on BiggerPockets and finally taking action. It's been a big learning curve in C real estate.

I am not happy with my management team in Ohio. They nickel and dime me as an out of state investor, and have my units sitting empty with no work being done on them for weeks. I have to constantly call/text/ email and threaten to leave for things to happen. I am done with this. I have two vacant units right now that I knew nothing about, and just got an estimate after 2 weeks and who knows when work will be done.

The only person I could count on left the management company and can handle all the necessary maintenance on my units. (He has been doing them for over a year). He cannot help with filling units and evictions. 

I would like to try self managing, but would appreciate guidance on who to look for or how to have someone show the units and handle evictions. Any help from you more experienced investors would be greatly appreciated. This would save me over $10K a year.

With the mismanagement we are just at break even (and need to do $6K+ to turn two units and about $24K to replace very old radiators in the near future putting us underwater again).

Thank You,
Kat 

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