How many can you manage by yourself?

[Byran Parson]

Every person will be different, but how many properties have you found to be manageable to manage by yourself?  At what point did it become too much along with your full-time job?

I'm planning to buy 10 rentals over the next 10 years (looks like I'll have the cash to do it).  I easily manage 2 rentals that I currently own.  However, what does it look like when you get to 10 or 12?  Have you done it?  Looking for any thoughts...

I'm handy enough to do work myself, but when there's 10 or 12 properties, that's not going to be feasible.  But even with setting up contractors to do the work, it takes time.  Also will take time to screen tenants, deal with vacancies, 3 a.m. toilet leak calls, etc.  

My father-in-law started a paving business years ago and he describes the point at which he wasn't able to "manage it all himself" and had to start hiring/outsourcing his back-end work.  That's my general question about rentals...

[Dawn Anastasi]

I used to do a lot more work ON my properties but since I took on more units, I've simply hired out all the painting, hanging blinds, changing locks, etc.  I can do all these things but I just don't have the time for these type of tasks anymore.

Currently I manage 36 units, have a part-time job, and do volunteer work on the weekend.

The most time consuming thing is getting a new tenant.  It's far easier to keep an existing tenant happy than to get a new tenant.  I think all of the business world knows that it's far easier to keep an existing customer than to get a new customer and the same is true in the landlord world.