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Updated 18 minutes ago, 12/23/2024

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New to Investing: Repairman? & Hire or Not to Hire a Property Management Company

Sophanara Khoeun
Posted

As titled, I am new to the property rental scene. I am ready and will be starting with property number one sometime, hopefully, quarter one of 2025 with a possibly 2 bedroom and 1 bathroom single family home; as this is within my current budget. The goal is to build a portfolio along the way. 
1. I found a house that I like to purchase in a great neighborhood and the exterior looks great for a 1922 stick built house. The problem is the foundation is sinking, the outdated polybutylene pipe is leaking in the crawl space and the electrical is outdated. The interior is decent and also requires updating . I have two questions that I would like to ask the community:

1. Is there a point of contact person/business that handles all home investor concerns (general contractor, engineer, etc.) OR do you call each individual specialist (plumber, electrician, mold expert, etc.)?

And 

2. With a 9-5 job too busy to catch a breather, being that it will be my first rental property would you recommend finding a property management company to oversee the investment property OR create a profile on a property management platform, I am thinking about Avail unless there is a better platform, to collect rent and hire specialist as issues arise from tenants?

I have many questions that need answers so I will likely be a regular here in this chat. Thank you all in advance!

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