Help learn by being a property manager?

[Kyle Root]

I have a property under contract and I am supposed to close 9/27/19 (2 days from now). I have one other property that is managed by a property manager. This new property that is under contract is in a different area, heck different state for that matter and it will be my first BRRRR. I want to manage this property because I feel like it will better help me improve my knowledge in what is needed as a property manager. I do not have much time right now, as I work 60ish hours a week. But if I have the right systems in place for maintenance, rent collection, mortgage payment, emergency phone calls, ect.. I should be just fine??

Do you guys recommend someone working 6 days a week become a property manager for a personal investment? I want to note: this was became an idea when a few property managers told me they charge 25-30% and said that it is national average...which I strongly disagree with.

Looking forward to hearing some feedback!

[Nathan Gesner]

Can you do it? Yes.

Should you do it? Probably not.

As a property manager, at least half of my business comes from owners that attempt to manage on their own until they lose their shorts...usually many times over many, many years. Then they come to me to be rescued.

You're hoping to save property management fees by doing it yourself but odds are pretty good that it will end up costing you more when you make a mistake.

If you think a professional is expensive, try hiring an amateur.