I woke up this morning thinking about the impact that hiring a property manager has on buying a series of investment properties using the Nomad investing strategy.While I used properties for Northern Colorado (Fort Collins, Loveland, Greeley area), I think the lessons apply to lots of other markets.For my assumptions, I assumed everything was the same EXCEPT in one scenario I hired a property manager at 10% of gross rents and the other I self-managed.If you're not paying a PM, you end up being able to buy the properties faster.

I guess that's probably obvious.This is the second phase of the project, so there is some proof of concept in pricing, demand, absorption, etc. as well as some lessons learned in the construction that should improve efficiencies (essentially building more of the same plans).The developer is 20 year friend. 

I cashflowed $700/month for 5+ years and walked away from closing with $39k Lessons learned?

Lessons learned?

Lessons learned?

., which isn't the same as first-hand lessons from the real world. 

Chalk it up to a lesson learned.

@Anand S. a good experienced agent can do this for a lot less on a standard PAR form.

I have now learned the lesson.

Lesson here: Don't buy Chinese drywall or bad take out food.