BP's voice in the WSJ Prompts a great question.

[Myres McDougal]

BP's voice in the WSJ Prompts a great question...for me.

https://www.wsj.com/articles/n...

To manage or not to manage your investments?

I am looking to build my rental portfolio in the Denver Metro and honestly believe that there is a threshold for how many properties an investor can handle, want to handle, etc. I am not sure what mine is yet but I am preparing to transition to a property manager or invest in property management software for the future. A shoutout to the local PM's companies in Denver you recommend or your favorite PM software in the comments. Treat your investments like a business and plan ahead. Thanks! #buildthatREI

[Ben Einspahr]

@Myres McDougal Agree 100%. Treat it like a business vs hobby. Regarding you question about how many rental properties one can self-manage before hiring out PM depends on a few factors:

-strategy they are renting (RBR, LTR, STR, MTR)

-mental bandwidth. By that, I mean how demanding is your job? Do you have flexible hours and able to solve minor issues while working from home or do you work in the commercial construction industry where you are onsite and unable to handle issues until your are off the clock. 

-And.. like you said, how much do you invest in software, systems, and other people on your team to help out. The who, not how.

STRs= 3-4

MTRs- 4-5

LTRs- 5-7

RBR (# of individual tenants) This is a hard one b/c I know @jeffwhite personally managed 20+ rbr tenants while managing full time job and being realtor on the side. but for the normal individual. 2 rbr properties consisting of 8 tenants.

What i recommend.... limited to what i can suggest on BP platform due to BP policies but ill send to you in a DM. In short, all comes down to property screening tenants on the front end to make life easy on the back end. Cheers