Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Portland Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

2
Posts
2
Votes
Kathryn Grimm
  • Real Estate Investor
  • Portland, OR
2
Votes |
2
Posts

Managing out of state multifamily units

Kathryn Grimm
  • Real Estate Investor
  • Portland, OR
Posted

I am considering, finally, selling one of my single family homes which has been sitting empty for three months between tenants.  Whenever there is a vacancy with one of my houses it is a devastating financial blow and recently I had two that were sitting empty for several months.  Now seems like a good opportunity to sell the one that is still empty and attempt to find a multifamily that I can afford. That would have to be out of state because Portland and all the surrounding cities are just too expensive.  

I've done some searching and have found duplexes, triplexes and fourplexes for a good price in other states.  Of course shopping in another city I know nothing about is like shopping in dreamland. I don't know the areas so they could be pretty undesirable so this would require more time researching and traveling getting to know the market.

What mystifies me though is how people manage property from afar.  I had two property managers in Portland trying to "manage" just one of my homes.  They were a dreadful disappointment who moved terrible tenants in and who's workers damage my home.  After the second try I just moved here and started doing it myself.  

How do you people with the multiplexes find reliable on site managers or companies to take over? What is an onsite managers incentive to show and rent an apartment when the owner is no where around to oversee them?  Do they get a percentage or bonus for each apartment rented?  I have a lot of questions and I'd love to hear both successes and horror stories so I can make a solid decision whether this move is for me. 

Thanks

Kathryn in Portland

Loading replies...