Should I hire a property manager?

[Tyler Battaglia]

Hi all,

I’m going to be starting my real estate portfolio soon by purchasing a 2 unit multi family and living in the first unit for a while.

One thing I cant seem to decide on is should I hire property manager for a short time?

The reason I’m leaning towards it is I’m very new to this and a littler nervous to start so I feel they’d be able to help/ guide me in a-lot of different areas (Book-keeping, Finding good tenants, helping me find maintenance, rent collections etc)

Then after I start to understand best ways to run it I could just get rid of the property manager, Thoughts?

[Erik Spell]

@Tyler Battaglia hey Tyler, I agree 100%. Self managing without experience is a lot of trial and error - lease agreements that may have holes, not having the right resources when a problem occurs, leniency on rent payments. I would recommend a PM but input this into your expenses. Call a few around the area before you buy. What are their rates? Then you can throw that into your expenses when you run a BP deal analyzer to really know your #s and determine a good deal.

And always vet your PMs. They are not created equal.