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Updated over 2 years ago,

User Stats

78
Posts
33
Votes
Amir Navabpour
  • Investor
  • Campbell, CA
33
Votes |
78
Posts

Diligence or overkill for out of state rentals?

Amir Navabpour
  • Investor
  • Campbell, CA
Posted

I have a portfolio of 11 rentals in Kansas City (I live in Ca).  My PM is competent.  I have done make readies/rehabs for all of them through a contractor, and the PM walks the properties when he is done.  Over the years, I have not personally visited any of these rehabs when the work is done, but rather rely on pictures/videos and my PM walking them.  Often times the to do lists for the contractor is in the 40-80 item range, and even with a good PM its impossible to monitor everything perfectly, and I have caught some items here or there that were either not done at all or half assed.   Additionally, I have had a friend in KC walk the majority of my properties to check on the repairs the PM had done.  For the most part everything checked out.   The majority of my portfolio is 2-4 years old so I was thinking about personally visiting to do the following.

-Walk the surrounding neighborhoods to monitor the quality of each neighborhood

-Get an inspector to provide a report on each property for proactive maintenance: termite, AC servicing, grading dirt, finding hidden leaks, etc. 

-Check the quality of work for myself on repairs and rehabs I had paid thousands for. 

I'm torn on the striking the right balance between taking care of your asset for the long term, and wasting money on something that already has thin margins.  The time off work, travel costs, getting inspections, etc isn't cheap.  Curious what others do to check in on their out of state rentals?  

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