Long Distance Property Management

[Jared Lasko]

Hi there! My name is Jared and this is my first post on Bigger Pockets!

I am a 25 year old investor in Reno, NV. I currently own a single family town home in Reno. I am looking to buy a duplex-quadplex for my next investment now. If you don't know the area, Reno is EXTREMELY hard to follow the 1% rule. I got lucky on my townhouse because the gentleman was getting foreclosed on and I happened to get him at the right time with the right offer. However, even with duplexes and up you can get close to 1% but it is very hard and very rare to find these properties.

Due to this, I have been researching the Las Vegas market instead. It is much much more favorable with much better options to make money. The only issue, is that Las Vegas is about a 6-7 hour drive from Reno. However, we do have cheap flights that run about 12 times a day.

Does anyone have any experience in managing properties from afar? I have also been looking into a property management firm in Las Vegas as well. It has really great reviews and without personally speaking to them, seems to manage a lot of properties. They do everything from tenant screening, to evictions, to showing up to court. AND, they only charge 8% (which would still be making me more money than rentals in Reno!). Is this too good to be true? But with having a property management, that would put 95% of my issues at ease with being so far away.

Any comments and wisdom would be greatly appreciated!!

Thanks!