Moving to Wichita, KS. Buy a Duplex?

[Colten Johnson]

Hello All! 

I am brand new to BiggerPockets and real estate as an investment opportunity. My family and I are moving to the Wichita area and I am curious what actual numbers are looking like in this area. My wife and I are thinking of buying a duplex to house hack but our biggest issue is we have NO TIME. Is is possible to hire a property manager to take care of the whole duplex so we don't have to try and fix things? What does the cost of PMs run around here? I have used the rental tool on BP website but I don't know what type of percentages to place in PM, Expenses, Vacancy that are accurate. Any and all help and resources would be greatly appreciated! 

[Leslie DuLac]

I agree that there are great benefits to giving it a go at managing your investment properties yourself, as long as you have the time to educate yourself on the laws and appropriate practices, have the right disposition, and want to do it. It's a great learning adventure! If and when you decide you don't need or want to manage your portfolio, you will be so much more knowledgeable on what you want from a PM company, what PMs are dealing with on a day to day basis, and have more reasonable expectations (in my experience). I manage a property management company, but I still manage my own rentals because I love it! There are some aspects I don't love, but I still enjoy turning a property over (painting, cleaning, maintenance, upgrading), and knowing I am providing a nice place for someone to live. There will be a time that I bring my properties into the company to manage, and I know they will be in good hands. 

I do believe there is a time to manage yourself (although it's definitely not for everyone) and a time to let the pros (yes we are professionals) do the work for you.

I agree with Daniel: buy quality properties, find quality tenants, and the experience should be less time consuming. (Although after 20+ years of experience, I know there are always exceptions.)