Vacancy & Risk Management✅ Plan for at least 1-2 months of vacancy per year to avoid financial strain.✅ Understand eviction costs and legal processes in case of tenant issues.5.

Lesson learned: slow follow-ups and poor lead management can be expensive.I knew I had to change how I handled leads, so I started automating follow-ups—and the difference was huge.

Property management vs. self-managing:Self-managing—at least in the beginning—can be invaluable.

Has anyone purchased from the Peak Group and used them for property management? 

I work with a lot of househackers and they're typically on the 12 month cycle, rinse and repeat.While the proposition of acquiring an investment property outside of your market in a "landlord friendly" state may sound appealing, i would recommend you stay local for now and househack another couple of properties over the next few years until you've got some more time / experience under your belt.you would need a management company to cover your property that is outside of your market which would not only take 8-10% of your gross it would also leave you a bit vulnerable to a property management company that you A.)know nothing about and B.)you won't have the experience or cashflow or proximity to deal with any headaches that may arise.i would recommend staying local and househacking your way along for now and then maybe hire a local property management company initially to work with your current/local properties to get a taste of what to expect if and when you begin investing outside of your market.

Seems like such a waste but nobody can agree on a new portfolio manager as the old manager was a family friend for multiple generations and well trusted.

We do the leasing for them, but once we get the tenant in place, turn it back over to the owner to manage. 

In 15 years of management and 20 years of investing, I've never had a break-in on a vacant or occupied unit.

Have been talking about getting into real estate investing for the last 2-3 years and finally pulled the trigger on a 3 unit house hack in Soulard that will be closing later this month and will be self-managing the property.I'm trying to network a bit with other investors, build a solid team of contractors / handymen, and set my systems up in way to scale, but also so my tenants have a good experience.

I'm a property manager, let's network!