Get a job in property management.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.

Trying to Scale Solo.The Myth of Doing Everything YourselfWhen I first got into real estate, I thought I had to:✅ Find the deals✅ Secure financing✅ Handle renovations✅ Manage tenants✅ Deal with maintenance✅ Track every dollarI figured, “If I want to maximize my profits, I need to do it all myself.”Sound familiar?

→ A property manager could do that.📌 Maintenance Issues?

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

Spending a ton on property management doesn't seem like the best move.

They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.

Yes, I'm a Property Manager in the greater Phoenix area.We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

The building's Property Manager is sympathetic to the owners at large, but says they can’t do anything until instructed by the Board, and they indicated the building’s lawyers would only respond to Board members.