How many properties should I purchase before hiring a property management company.....or should I quit my job and do it myself?

[Steven Sample]

I purchases properties before out of state and sold them all when I moved away....I wanted to know should I hire a property management company to manage my current properties or should I quit my 9-5 and manage them myself....I enjoy everything about property investing...especially the rehab and buying and holding expect.

[Account Closed]

Steven,

Most management companies are not set up to make you money.

But if you want the most back for your invested dollar do it your self.

On the other hand If you are buying quality rentals then you should have less turn over which puts more in your hands not the management company.

If you do it, you just created a job for you and you only, limited vacations and many late nights and calls when you don't want them. Also if you don't mind all of that the last question I have and you will know, with you managing will that pay you the same? If not I would not. One more thing, Your job now will help you get funding and secure your families life the other will not.

[Steven Sample]

Thanks Sydney, I can totally understand your point of view and it makes sense....especially the funding part has help me to get to the point I am at now. The J.O.B has a since of security, but I also now make twice as much investing in properties. I guess if I enjoyed my job I wouldn't be considering leaving it...and on the other side of the coin. I can always go find another J.O.B if I step out and take a risk on managing my own company full time...

[Rob Beland]

@Steven Sample I would say if you can manage a full time job while owning real estate why not keep the job? If a property manager is needed just balance the cost of that vs. you doing it yourself and working full time. It's really a personal question that you have to figure out. Don't get burned out. I have an investor client that owns over 100 units in generally the same area (within a 30-40 mile radius) and he has been working full time for the whole 30 years he has been doing it. I own 25 units and self-manage all of them but I'm also a licensed RE agent which brings in other income to help fund more deals.

[Steven Sample]

Thanks Rob, I can see where your coming from and I guess it's not keeping a job. It's more finding a job that I can tolerate....because it do help me fund my deals a lot quicker. I take a more pro-active approach when it comes to my investments and I haven't received any crazy emergency in approximately 3 years...I couldn't imagine paying a property management company. I know I can do both....I just don't know if I want to do both...again Rob you are right that's more of a personal question/choice.

[Account Closed]

How about looking in to a job that is in the real estate world that you can learn from while being paid.

[Jeff S.]

Don't know your age but I quit and regret not doing it sooner. Quit at 59 after 21 long years.

Load up on loans now though because they are putting me through a ringer at the bank w/o w2 and trying a cash out refi.

[Steven Sample]

Thanks Sydney, I was just talking about that with some friends of minds....and looking at what type of job in this area I would like...there are so many. Nevertheless, that is an excellent idea.

[Steven Sample]

Thanks Jeff, that is so true! Oh and by the way I am 41 years old.....but I think I wasted a lot of time and energy on 9-5 than I did on my own business. Now I am focusing more on my own business .....its growing faster than I thought....I like having that problem.