All Forum Posts by: Dev P.

Great question @Heather. I was wondering the same myself.

We'll be about 500 miles away so definitely need a property manager, but really wondering if it makes sense to pay an extra 4-5% (monthly) on an upper tier property manager or are most property managers more or less going to provide the same service?

Hi all - I am moving forward with a rental property and have been shopping around for a property management company in California. After speaking with a few they range from 6% to 10% a month which adds on a large property up but my question is are they worth it or are they just collecting rent every month with minimal value add? Any experience or thoughts would be great. Thanks.

Thanks, appreciate the reply. With mortgage interest/tax deductions I would receive around $35K back with a tax bracket of 30% that would be about 10K in return/12months. That would be approximately $833 a month which would essentially breakeven with my $800/mo loss. Furthermore, I could seek to build more equity in the property and hope it appreciates (property in southern California) and then try to sell next year. Does that logic make sense? Seeking any guidance.

Seeking guidance regarding a property in terms of rent vs sell. Current market value is $900,000, purchase price was $880,000 2 years ago. After selling with fee's, take away would be $855K (900k-45K). All in costs are $5100 a month with potential rentability of $4300 a month which would put me at a loss at least 800 a month. Are there any tax benefits of renting where I could make up that 800 monthly loss by renting or the 25K loss by selling (income over 150K annually)? It appears I am at a loss either I sell or rent, any guidance on which is a better path?