Providence/Pawtucket Property Managers

[Erin Onsager]

I'm under contract to buy a small apartment building in Pawtucket.  This purchase is a lot of firsts for me - first multi-family and first out of state purchase.

I'm looking for a property management company and curious if anyone has any recommendations?

Thanks!

[Erin Onsager]

@Fan Bi, sadly no.  I wouldn't invest there again, but will give the caveat that I wouldn't do it BECAUSE I am an out-of-state investor.  I live in Colorado and make it to my property twice a year, but prefer to be much more hands on than distance allows.  I've found management to be much more expensive than I'd have thought it to be, and I've had a few tenant issues that have been frustrating, to say the least.  I was eager to invest out of state for a variety of reasons, including, but not solely because of advice I'd read and listened to on Bigger Pockets.  I've found it a lot more difficult than any podcast would have you believe.  You need a rock solid management company who offers personalized attention to detail, and that's hard to find, frankly.  I also own a small handful of properties in and around Denver (where I live) and that's all been a breeze (the odd tenant issue notwithstanding) and financially very successful.  When I eventually sell my Pawtucket property, it will be my last investment in the area and I will only invest locally henceforth.  That's just me though... I'm sure others have a better system for out of state investing than I do.  That being said, I'll be looking to sell my 3 unit building in Pawtucket in a year or two... :-)