At what point does it make sense to hire a property manager if I’m buying a rental property outright and will have another rental ready next year (total 2)? Both are new builds so don’t anticipate lot of repair work in the first few years. Main concern is finding tenant in a timely manner. Is a property manager worth it for finding a tenant or is it something individuals can do it by themselves relatively easily?

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You can use a property manager to just find a tenant without having them manage the property. Really depends how much time you have to put into this and what value of outsourcing the work means to you

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Are the homes near you? If they are local, I don’t think a property manager is worth the cost.

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I don’t think so. I use Craig’s list and Facebook and haven’t had vacancies.

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Don’t waste money on a property manager. Have a reliable handyman (or two) on call and find your own tenant as long as you’re somewhat local.

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Makes sense. Looking into it as well! Thanks.

We had our realtor find our first tenant for us and it cost half of one month’s rent. They found an amazing tenant who stayed with us for multiple years so I felt like it was pretty worth it, ymmv - but yes you can do it yourself also, it’s not too much work, just stick to your guns on choosing the best tenant and personally I find it better to not rent at all if you find them questionable esp in tenant-friendly states

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Thanks for your insight. I might have to discuss with my agent too as he’s investor friendly.

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I'm early in my career, managed to save $30K to invest, and want to get my hands dirty with a rental property without too much risk (e.g. no HML/flipping). It sounds like that's a tall order in the NY/CT area given the prices, not to mention whether I'd be able to get a mortgage on anything below $100K, but I figure I'll give it a shot anyway. Any advice on what you might do in my position? Am I being crazy with this idea?

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From a financial standpoint in this market, which would be a better approach in Austin -

1. Buy a ~8-850k house that meets most of our ideal criteria (size, schools, interiors etc) to stay long term

2. Buy a ~5-550k house that’s not ideal with the plan of moving into an ideal home in 4-5 years when kid is ready for school.

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Happy to add more details as needed

Thanks

Got an agent and she was useless for finding good tenants. Got frustrated and finally started finding leads myself and closing on one soon. I have signed a contract with the agent for paying one months rent as fee. How can i fight this or as he has been literally of zero value add? I will ofcourse ask nicely but wanted to see if i have any other options!

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