Landlord or Property Manager

[Alex Shipp]

I am new to Real Estate Investing and BP and was thinking about getting into buying SF rental properties. It seems like most people on BP uses a property manager, but I was wondering if any of you manage your properties yourself?

I'm just starting out, so I would only have one property to manage and thinking I could save on the management fee which is 8-10% plus half to one month's rent.

My main concern would be actually renting the house out. The only way I know how to advertise is on Craigslist. Does this work for you that manage your own properties? Do you use an agent to help you out?

[Cordell M.]

We do both

-Property manager in a lower income area where city has many regulations & is very quick to fine for anything they can...it's nice to have someone w/those relationships at city hall...

-Few things I do when renting those I/we manage

• Always open houses vs individual appointments as people will not show up
• Postlets pushes out to multiple sites to advertise
• Post link to youtube of two to three minute tour of unit 
• Post requirements (credit score, other financial requirements)
• Change my voicemail message to explain quick details of property...this alone saves me answering the same questions every day and did not hurt my turn out one bit.
• The guide to tenant screening on here as others mentioned is an awesome resource.
• When calling to verify resources/recommendations don't be afraid to 'misquote' something...application says they worked at a placed for one year, ask the source 'I see they have worked with you for three years' and see if you're corrected as some applicants like to give creative sources to speak to :)

Good luck!