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Updated about 3 hours ago,

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2
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Yooni Choi
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2
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How to self-manage out-of-state property

Yooni Choi
Posted

Hi! I'm just starting out an RE journey and am thinking of my first property this year. The thing is, I will be moving out of the current state leaving myself to either self-manage or hire a PM for my property. I am leaning towards the self-manage option and got several questions regarding self managing a property while living out of state. I will be buying a multifamily property in a landlord-friendly state without any rent control. My questions are:

1. How should you handle showing of the units?

2. How do you conduct move-out inspection and cleaning once a tenant moves out?

3. Is there specific tool you like to use in order to manage your property in regards to rent collection, report maintenance issue etc.?

4. Any other stuff that I should be aware of when trying to self-manage a property?


I think a lot of people here in biggerpockets like to advise people to have a PM. I do understand how PM can handle all the hassle, but I would appreciate if someone could provide me an insight with 'self-managing' as I already have found abundant resources around using a PM! Thanks in advance.