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Updated almost 5 years ago on . Most recent reply
Looking for my first out of state rental. Advice for PM (thanks).
Ive made a few flips and currently have 2 properties that I fixed up and am renting out. I manage each myself and things are going really well.
But here in Illinois where the properties are located, the taxes are pretty crazy high. I was playing with the numbers, and it would be cheaper to hire a property manager in another state than it would be to keep paying Illinois taxes. I did a lot more work that that, but basically I am trying to find a nice growing cheaper city to build a portfolio in.
Ive kind of narrowed it down to the Chattanooga TN area. Now my problem is I have no experience with property management. What is the best way to BEGIN my search? Should I contact a PM first? Should I only get in contact after I find a property? Would a PM be a resource for finding a decent property?
Sorry if this is a common question, I am new here and tried to find the question first. Have a wonderful day yall.
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@Christopher Earling
A PM is an important team member, but so is an investor friendly agent. I don't have any contacts in Chattanooga I could share unfortunately but if you have keyword alerts setup, you'll be notified of posts that are frequented by investors in your target market and reaching out to them is a great first step.
Good luck