Originally posted by :    @Marco Santarelli  I see this going right back to what got the industry into trouble last go around owners with little or no cash into deals.. especially lower end tough to manage properties.. just because they can get low down they Better Have substantial reserves. this model created a lot of failures from owners ...

I have excellent role-models in my own family of first-generation immigrants who have invested in RE decades ago and now enjoy total financial freedom before retirement.

While some property owners choose to self-manage their rentals, there are compelling reasons to consider hiring a professional property management company:- Expertise and Experience: Property management companies have the knowledge and experience to effectively screen tenants, assess rental market trends, and handle maintenance and repair issues promptly.- Time Savings: Managing rental properties can be time-consuming, especially when handling tenant inquiries, maintenance requests, and lease renewals.

This includes having a clear understanding of holding costs, financing options, and potential rental income once the property is ready.Your current realtor’s local expertise will be invaluable as you navigate these challenges.

Leveraging Glenn's local market expertise, we secured the property for $350,000.

They have expertise in selecting furniture, decor, colors, and layouts that complement the property's style and appeal to potential guests.Optimized Space Utilization: Designers can maximize the functionality of your rental property, ensuring that every space is utilized effectively.

A common rule of thumb is to budget around 1-2% of the property's value annually for maintenance.Management Fees: If you plan to hire a property manager or use a property management service, factor in their fees as part of your operating costs.Contingency Fund: Always include a contingency fund in your budget to account for unexpected expenses or fluctuations in operating costs.Financial Modeling Tools: Consider using financial modeling tools or spreadsheets designed for real estate investment analysis.

Leveraging Seth's local market expertise, we secured the property for $330,000.

I had my fare share of financial modeling and asset management and can say I know how to analyze deals and asset manage very well.But, I was not too involved in the closing phases of the deals (lawyers, reports, debt placement, contract negotiations, parts of the DD...) so I lack knowledge in those parts, which I make up for in reading ton of materials and listening to podcasts.• After that I worked for three years as a management consultant at McKinsey where I sharpened my business acumen, problem-solving, storytelling, and presentation skills.

It is a pretty good explanation.The expertise comes from doing it for many years.