WHY I WILL NEVER MANAGE MY OWN PROPERTIES AGAIN

[Trey Warner]

I like many others wanted to get the best bang for my buck in my first real estate investments.  I decided I could do the work and manage the rental properties myself. I thought to myself, man, I don't want to pay someone 8% of the gross rent to just collect checks and sit on their butt doing nothing.  After a couple years and owning 6 units I realized I was NOT getting the best bang for my buck.  There were far more problems than what I had anticipated. Late night calls, excuses why they can't pay rent, sob stories, tenants fighting other tenants, cops being called, babies flushing diapers down the toilet and flooding, tenants just going MIA, etc.  Trust me, in the two years I managed I could give you a ton of horror stories and these units were in a nice safe neighborhood. I disliked filling vacancies, dealing with no shows and screening people. GEEZ! this is not worth saving 8% on gross rent. After a while, I learned that my greatest cash cow is actually myself. Property managing was taking me away from where I make the most money because I would have to take calls or I would be stressed out.  That stress would then consume my mind and would make me not be mentally present during a meeting or a sale, etc. It would sadly at times make me non present with my wife and children. I still tried to fight it by hiring a property manager, but finally lowered my pride and found the best in property manager in Utah Valley. This was the best thing I have ever done in my 10 years of investing.  I was in a far better mood and could focus on the things that mattered most. It made me more motivated to buy more property with confidence. I now own almost 40 doors here in Utah Valley from fourplexes to single family homes and I am stress free. Learn from me, get a property manager because you will make more money in the end AND be far happier. Ask around who can be trusted as your property manager.  Interview them and follow your gut feeling. Good luck!