Property Manager For 1 Property?

[Amy Mitchell]

Hi Guys,

I’m looking to purchase my first multi-family Investment property soon, and had a question. I’m in California and will be purchasing this investment property out of state, in the Midwest. Is a property manager necessary for just 1 duplex or triplex property? Is it possible to manage this property myself from California? 

[Anthony Caraballo]

Hi Amy, 

Having a rockstar Property Manager on your team is never a bad play. It'll be extremely advantageous for you to have someone boots on the ground who can take care of the property and truly help with building your PASSIVE income streams. 

I've personally managed properties both long distance and locally. Long distance ones never last because it becomes near impossible to manage effectively and efficiently. Not to mention the relationship you'd be building with a local who can aid you in finding more deals, taking care of your investment, and helping to expand your local team through their connections and resources. 

I'd say go with a local property manager 100%. Definitely worth the added expense. 

Hope this helps!