Property management is too expensive

[Jon Klaus]

I have not outsourced my property management, but in listening to the experiences of others, I know of very few very few investors who are satisfied with the quality and value they are receiving.

On the other hand, many investors don't have the time or inclination to manage their properties themselves.

Isn't there a middle ground?

Hire and train your own property manager who works for you. Pay her/him as an employee or contractor and set up the relationship to align your interests. Pay them for their time, and not a PM company's overhead, profit, and marked up third party services. Define your own level of quality and service with your new assistant. Mentor and grow that person into a possible partner in the future.

Anyone doing this? What have you learned?