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Updated about 5 years ago,
Who has great property managers in good cashflow markets?
There are many good markets out there for cashflow, mostly in the Midwest. I plan to invest out of state because the cashflow for rental properties here in South Florida is awful. I only care about the numbers...I have no need to be able to drive by my properties. The one thing I will badly miss is my property manager here in Florida and I’ve realized that if I had her wherever I was buying, I’d happily invest on the moon. So with many markets all being similarly good for cashflow I’ve realized that my goal is to end up with a property manager like the one I have, with whom everything is completely passive - she takes care of everything for her 10% efficiently, my rents are always deposited on time, she has taken care of evictions, she deals with problem tenants and gets new ones in quickly, she gets repairs taken care of quickly – in other words she is the ideal property manager. As a major bonus she is also my realtor, so I buy and sell through her too. My point is, I would probably invest in a specific market, among several good cashflow markets, based on the property manager above other considerations. I will visit before buying out of state, not only to see areas and properties but also to meet and build a relationship with a manager. But I can’t fly to every good market and do that. With that said, who in good cashflow markets has a property manager like mine? One they have been with for a long time that ticks all the boxes you would want them to. One that makes their investment as passive as it can possibly be. Looking for suggestions from people who actually employ the property manager rather than referring someone in their network.