Managing out of state investment repairs

[Allen Lopez]

So I am not sure what to do here. I have a single family home in st augustine that I manage from out of state. Great tenants, no issues there. My issue is as far as managing repairs. My roof needs to be replaced (just the shingles). I have found a contractor that sounds great. Has great review...so on. My question is how do you guys manage or oversee repairs on your out of state properties?

I don’t have a property manager. I also don’t think I should have to take a week off and travel there to oversee the project. I don’t want to micro manage but at the same time I want to make sure that they do a good job.

Has anyone had to deal with something similar to this is the past?

Lastly, since I have a mortgage on the property, my loan company needs to endorse the insurance check and do an inspection on the roof. This is free for me. So I wait until they do this inspection to pay the contractor? I paid the deposit with a credit card so they have my information and can technically charge the rest as soon as they finished the job.

Any advice?

[Tyler Jahnke]

Do the numbers still make sense if you were to hire a property manager to take over the property permanently?

If not, maybe you can find a temporary project manager and hire them to oversee the repairs, take photos and give you updates...etc.

The bigger item, in my opinion, is: you are the CEO of your real estate business and if you want to scale, you're going to have to hire individuals (and pay them) to run your day-to-day operations.

-Tyler