Taking Property Managers Advice with a Grain of Salt...

[Jason Haynes]

I'm currently interviewing a few local (Dallas / DFW) property managers. Some have been very helpful with providing feedback on certain neighborhoods / areas. However, I can't help but wonder if they are slightly biased towards more expensive (stable) properties, since they are presumably less maintainance (ie a $150K SFR in Plano, TX vs $45K in Irving, TX). I've thrown out a few areas around Dallas, but I'm finding that all of them are coming back as 'bad investments'. I have to think the people investing in these areas are still generating cash-flow though.

I have a trmendous respect for property managers out there...I have no doubt that these property managers have way more experience with these areas. I'm just trying to figure out how seriously I should take the advice on a 'less than stable' (but higher cash-flow) neighborhood. Has anyone had any experience with this?