Updated about 7 years ago on . Most recent reply
Property Manager VS Self-Managing
Hi Biggerpocketers!
I am very new here and also new to the whole Real Estate industry. I recently joined a property management agency as a licensed REALTOR and I have sooo many questions!
In our portfolio, I see there are investors with just one property and others with many, my question is:
At what point do YOU decide to get a property manager instead of managing your portfolio on your own? Is it when you reach a certain number of properties or do you generally look for a landlord? Also, what is the main thing you are looking for in a property manager?
Most Popular Reply
We self manage some of our properties and have a PM to manage others. It really comes down to making the best use of your time and not doing what you do not like to do. Having a PM is ideal if there is distance involved, or you may not like manageing and want to focus on being an investor-it is a layer between 'you and them'. If we were to ever buy a property with 'D' tenants and in a bad neighborhood we'd get a PM involved for sure. Always construct your numbers with a PM accounted for then you have a choice. A PM is not a magic wand, most do a great job and will save you time, while others just get in the way and suck profits.